Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
Michelle Weaver, a U.S. thematic and equity strategist, interviews Arunima Sinha from the Global on U.S. Economics teams to discuss the health of the U.S. consumer. While anecdotal evidence from earnings season suggested a cautious consumer, macro data indicates strong consumer spending in Q1 2025, driven by steady la...
Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, presents his mid-year outlook on the U.S. equity market. Maintaining his $6,500 12-month price target for the S&P 500, he explains his rationale despite market volatility. He addresses pushback against his forecast of high single-digit earnings growt...
Andrew Sheets, head of corporate credit research at Morgan Stanley, discusses the impact of higher interest rates on the market. He begins by acknowledging the recent market volatility caused by US tariffs, then shifts focus to the potential effects of increased government borrowing, particularly in light of current b...
Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy, and Michael Gapen, Chief U.S. Economist, discuss the U.S. Court of International Trade's decision to strike down President Trump's reciprocal tariffs. While the ruling initially appears to be a setback for the administrati...
Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy, discusses key questions raised at the Japan Investor Summit. The most frequent concerns revolved around U.S. tariff policy, its potential for escalation, and its impact on the U.S. economy. Zezas explains that while the c...
This podcast episode, recorded at the Morgan Stanley Luxury Conference in Paris, discusses the moderation of the luxury goods market's post-pandemic boom. Eduoard Aubin, head of the Luxury Goods team at Morgan Stanley, explains the market's contraction, citing factors such as a shift towards experiences over material ...
Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, discusses the impact of recent tariff reductions and interest rate changes on the U.S. equity market. He notes that the reduction in tariffs helped to extend a stock market rally and improve corporate and consumer confidence, suggesting that trade hea...
Seth Carpenter, Morgan Stanley's Global Chief Economist, interviews Serena Tang, Morgan Stanley's Chief Global Cross-Asset Strategist, on their mid-year economic outlook. Tang recommends overweighting U.S. equities and core fixed income, favoring U.S. assets over global ones (except the U.S. dollar). They discuss the...
In this episode of "Thoughts on the Market," Serena Tang and Seth Carpenter discuss Morgan Stanley's midyear outlook for the global economy and markets. Carpenter outlines a "Skewed to the Downside" outlook, anticipating a slowdown in the U.S. and global economies due to trade and immigration policies. He forecasts hig...
Chiwoong Lee and Sho Nakazawa, economists at Morgan Stanley MAFG Securities, discuss their observations from the Morgan Stanley Japan Summit in Tokyo. Client concerns centered on the uncertainty surrounding U.S. trade policy and investment strategies related to Japanese governance reforms, particularly the removal of ...
This episode explores the market's positive response to a 90-day pause in reciprocal tariffs between the U.S. and China. Against the backdrop of this temporary trade truce, the S&P 500 saw significant gains, and credit markets rallied, reflecting reduced recession risk. More significantly, the analyst highlights that ...
This episode explores the market's reaction to and interpretation of U.S. tariff policy in 2025. Against the backdrop of significant uncertainty regarding the policy's true aims—whether as a negotiating tactic or a fundamental shift in trade strategy—the speaker notes a clear market response: credit and equities initi...
This episode explores the potential of humanoid robots and their projected $5 trillion global market by 2050. Against the backdrop of comparing current humanoid robots to a "young child" in development, the discussion highlights rapid advancements in their capabilities, from barely walking a few years ago to particip...
This episode explores investor reactions and expert analysis of the ongoing Congressional deliberations on tax and fiscal spending plans. Against the backdrop of expiring tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA), clients express significant interest in the potential macroeconomic impacts, particularly on eq...
This episode explores the resilience of private credit markets amidst current macroeconomic uncertainties, particularly concerning tariffs and policy uncertainty. Against the backdrop of growing concerns about corporate credit health, especially in smaller, weaker companies, the discussion analyzes the rising risks in...
This episode explores the implications of recent U.S.-China trade negotiations for equity markets. Against the backdrop of a better-than-expected detente in the trade war, Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist, emphasizes the importance of considering future uncertainty rather than focusin...
This episode explores whether the recent market rebound signals the end of economic turmoil or merely a temporary lull before a more significant downturn. Against the backdrop of recent market volatility and the unwinding of losses since April 2nd, the speaker, Andrew Sheets, head of corporate credit research at Morgan...
This episode explores the unexpected weakening of the U.S. dollar and its implications for global currency markets. Against the backdrop of initial predictions for dollar strengthening due to U.S. tariffs, the discussion reveals that concerns over a U.S. economic slowdown, driven by factors like limited fiscal policy a...
This episode explores the evolving perception of safe haven assets, specifically focusing on the role of U.S. Treasuries and the impact on asset correlations. Against the backdrop of April's challenging market conditions and unusual market moves, the discussion examines why foreign investors previously viewed U.S. asse...
This episode explores the Federal Open Market Committee meeting and the implications for interest rates. Against the backdrop of a still-solid US economy, despite a negative first-quarter GDP print largely attributed to inventory adjustments, the discussion pivots to the uncertainty introduced by recent trade developme...
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