Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
Andrew Sheets and Lisa Shalett discuss whether current inflation is transitory or indicative of a new era of higher prices. Lisa Shalett outlines factors contributing to inflation from both demand and supply sides, including the global infrastructure boom, the K-shaped economy, and constraints on policymakers due to hi...
Michael Zezas and Ariana Salvatore discuss the outlook for U.S. public policy and its interaction with markets into 2026, noting that policy uncertainty has decreased since the previous year. They address key policy variables like trade, fiscal policy, and regulation, observing how economic actors are reacting to these...
Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist, discusses the feedback and debates surrounding their 2026 global economic and market outlooks. Key areas of discussion included their constructive stance on AI and data center-related CAPEX, the pivotal role of credit markets in financing AI investments,...
Mike Wilson, Morgan Stanley CIO and Chief U.S. Equity Strategist, discusses the implications of the Fed's recent meeting for the stock market. He highlights the Fed's decision to restart asset purchases, specifically buying $40 billion of T-bills per month, which exceeded market expectations. Wilson interprets this as ...
Andrew Sheets, head of Corporate Credit Research at Morgan Stanley, discusses the outlook for global credit markets in 2026, predicting a period where the credit cycle intensifies before it concludes. He attributes this to a stimulative environment with central bank rate cuts, increased government spending, easing regu...
Matthew Hornbach and Michael Gapen discuss the recent FOMC meeting, where the Fed cut rates by 25 basis points. Michael Gapen highlights key takeaways, including the Fed's shift from risk management cuts to data dependence, confidence in declining inflation, and the explicit ruling out of rate hikes. They delve into te...
Laura Wang and Chetan Ahya discuss the 2026 macro outlook for Asia, focusing on China's equity market. They analyze the unexpected strength in Asia's exports in 2025, driven by tech, and project a shift to non-tech export recovery in 2026, supported by improved U.S. demand and easing tariff uncertainties. This shift is...
In this episode of "Thoughts on the Market," Paul Walsh and Marina Zavolock discuss the outlook for the European stock market in 2026. Marina reviews 2025 as a year of two halves, with a strong first half driven by factors like German fiscal policy and diversification from U.S. equities, followed by a weaker second hal...
In this episode of "Thoughts on the Market," Mike Wilson and Dan Skelly discuss their bullish outlook for the U.S. stock market in 2026, while acknowledging potential volatility and inflation risks. They explore strategies for retail investors, including hedging against inflation through investments in AI infrastructur...
This episode of "Thoughts on the Market," recorded live from Morgan Stanley's Global Consumer and Retail Conference, features a panel discussion on the U.S. consumer and the impact of AI on consumer companies. The panel analyzes AI implementation across various sectors, with examples from Walmart's full-scale AI deploy...
This podcast episode, recorded live from Morgan Stanley's Global Consumer and Retail Conference, focuses on the health of the U.S. consumer and the K economy. The discussion involves multiple experts analyzing consumer spending trends, the impact of inflation on different income groups, and expectations for future econ...
Michael Zezas and Serena Tang discuss key investor debates stemming from Morgan Stanley's Year Ahead Outlook. They address concerns about AI's impact on equity valuations, arguing that current market conditions differ significantly from past bubbles due to higher quality companies, improved profitability, and a favorab...
Mayank Maheshwari, Morgan Stanley's South Asia Energy Analyst, discusses how AI and electrification are rapidly increasing global power consumption, with annual demand projected to rise by over 1 trillion kilowatt-hours through 2030, nearly a fifth of which is attributed to AI-driven data centers. This surge is expecte...
Jay Bacow and Jim Egan, co-heads of Securitized Products Research at Morgan Stanley, discuss their outlook for mortgage rates and the U.S. housing market in 2026. They forecast the 30-year fixed mortgage rate to end 2026 around 5.75%, which should improve affordability from 2023 levels, though it will remain a relative...
This podcast episode, an encore release, focuses on Japan's stablecoin revolution and its potential global impact. Mia Nagasaka, Head of Japan Financials Research at Morgan Stanley MEFG Securities, explains that Japan's first yen-denominated stablecoin is imminent, following a legal framework established in June 2023. ...
This podcast episode, an encore release, focuses on the significant impact of inheritance on the financial lives of Americans. Michelle Weaver, Morgan Stanley's U.S. thematic and equity strategist, discusses how the aging Baby Boomer generation is expected to transfer trillions of dollars in wealth to younger generatio...
Michael Gapen, Morgan Stanley's chief U.S. economist, presents the 2026 U.S. economic outlook, forecasting a shift from slow growth and sticky inflation in 2025 to moderate growth and disinflation in 2026 and 2027. He projects modest growth of 1.8% in 2026 and 2% in 2027, with inflation cooling but remaining above the ...
Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, discusses the current stock market correction, attributing it to the Federal Reserve's monetary policy and its impact on liquidity and interest rates. He notes that while the S&P 500 has seen limited downside, broader market damage is more significant,...
Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley, discusses a new challenge for credit markets: an increase in bond supply driven by technology companies' capital expenditures for cloud and AI infrastructure. He contrasts this with the post-global financial crisis period, which saw reduced bond supply...
Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist, discusses the 2026 outlook for the global fixed income market from the Morgan Stanley Asia Pacific Summit. He highlights that micro trends will drive markets towards a generally positive stance on risk, with continued disinflation and growth converging t...
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