Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley, interviews Lisa Shalett, Chief Investment Officer for Morgan Stanley Wealth Management, about her report "American Exceptionalism, Navigating the Great Rebalancing." They discuss the long-term outperformance of the U.S. economy and markets, attributin...
Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, discusses his bullish outlook on the S&P 500, projecting it to reach 7200 by mid-next year. This optimism stems from a more resilient earnings and cash flow environment than initially anticipated, driven by factors such as positive operating leverage,...
Nick Lord, Morgan Stanley's Head of ASEAN Research, discusses Singapore's projected economic growth and wealth creation over the next decade. He attributes this growth to three key factors: Singapore's expanding role as a global hub across various sectors (finance, trade, commodities, tourism); its aggressive adoption...
Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley, discusses the funding of the anticipated $3 trillion in spending on AI infrastructure by 2028. He predicts that large technology companies will fund roughly half through internal cash flow, while the remaining amount will likely come from credit marke...
Michael Zezas and Ariana Salvatore discuss the U.S. administration's newly released AI Action Plan. The plan, encompassing over 90 policy actions across innovation, infrastructure, and global leadership pillars, aims to solidify America's role in global AI development. The discussion covers deregulation efforts, infr...
Ben Swinburne, a Morgan Stanley media and entertainment analyst, discusses the transformative impact of generative AI (GenAI) on the entertainment industry. He highlights GenAI's applications in content creation, from de-aging actors and generating scripts to creating music and personalized content. While acknowledgi...
Chetan Ahya, Morgan Stanley's Chief Asia Economist, discusses three key investment decisions facing Asian investors due to the weakening U.S. dollar. He analyzes the diversification away from U.S. assets, the allocation of incremental savings to the U.S., and the increased hedging of U.S. exposure. While noting that ...
Seth Carpenter, Morgan Stanley's Global Chief Economist, discusses the speculation surrounding a potential "shadow Fed chair" before Jerome Powell's term expires in May of the following year. He analyzes President Trump's criticism of Powell's monetary policy and the resulting uncertainty about Powell's successor. Ca...
Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy, discusses the lack of a summer slowdown in U.S. policy catalysts affecting financial markets. Despite recent policy events including speculation about Fed leadership, details of the new fiscal bill's deficit impact, and announcements of ne...
Michelle Weaver, U.S. thematic and equity strategist at Morgan Stanley, and Dave Adams, head of G10FX Strategy at Morgan Stanley, discuss Morgan Stanley's bearish view on the U.S. dollar. They predict a further 10% drop in the dollar by the end of next year, attributing this to converging U.S. and global interest rate...
Andrew Sheets, head of corporate credit research at Morgan Stanley, discusses the delayed impact of tariffs on economic data and earnings. He explains that while markets have shown resilience despite tariff headlines since February, the impact is expected to become more pronounced in the third quarter of 2025. This i...
In this episode of "Thoughts on the Market," Paul Walsh, along with Marina Zavolock and James Lord, discusses the implications of the weakening U.S. dollar on the European stock market. James Lord outlines the reasons for a structurally bearish outlook on the dollar, citing slowing U.S. growth and policy uncertainties....
In this episode of "Thoughts on the Market," Paul Walsh, along with Marina Zavolock and James Lord, discusses the implications of the weakening U.S. dollar on the European stock market. James Lord outlines the reasons for a structurally bearish outlook on the dollar, citing factors like slowing U.S. growth and trade ta...
Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, discusses the resilience of the equity market despite new tariff announcements. He attributes this resilience to several factors: limited import cost exposure for S&P 500 industries due to deferrals and exemptions; the perception that recently announce...
Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley, interviews Jenna Giannelli, Head of U.S. Consumer and Retail Credit Research, about the delayed impact of tariffs on prices and margins. Giannelli explains that retailers initially mitigated the impact through existing inventory, stockpiling, and vari...
Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy, discusses the recent increase in U.S. tariffs and their potential market impact. He characterizes the current situation as a period of "tactical escalation," with tariffs rising to a level higher than initially anticipated (15-20%) but sti...
Serena Tang, Morgan Stanley's Chief Cross Asset Strategist, discusses declining demand for U.S. assets on July 9th. While high-frequency data shows a decrease in demand for U.S. stocks, Tang argues this is exaggerated. Data from Lipper and Treasury TIC indicates a slowdown in foreign investment but not significant ne...
Ross Law from Morgan Stanley's European Aerospace and Defense team interviews Arushi Agarwal from the European Sustainability Research team about the increasing integration of AI in European defense spending. The conversation covers the evolving relationship between sustainability and national security, the significan...
Michelle Weaver, Morgan Stanley's U.S. thematic and equity strategist, discusses the evolving state of the U.S. consumer in light of mixed economic signals. The podcast uses data from a recent consumer survey to reveal that while inflation remains a top concern (though trending downward), political worries are increas...
Andrew Sheets, head of corporate credit research at Morgan Stanley, discusses the historical context of U.S. debt, contrasting the current trajectories of corporate and federal debt. He notes the U.S. government's substantial borrowing and the potential for increased risk premiums on longer-term bonds, while highlight...
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