Thoughts on the Market
Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
How Japan’s Stablecoin Could Reshape Global Finance
Our Japan Financials Analyst Mia Nagasaka discusses how the country’s new stablecoin regulations and digital payments are set to transform the flow of money not only locally, but globally.
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Welcome to Thoughts on the Market. I’m Mia Nagasaka, Head of Japan Financials Research at Morgan Stanley MUFG Securities.
Today – Japan’s stablecoin revolution and why it matters to global investors.
It’s Friday, October 31st, at 4pm in Tokyo.
Japan may be late to t...
Why Shutdown Standoff Raises Stakes for Healthcare
Our analysts Ariana Salvatore and Erin Wright explain the pivotal role of healthcare in negotiations to end the government shutdown.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's U.S. Public Policy Strategist.
Erin Wright: And I'm Erin Wright, U.S. Healthcare Services Analyst.
Ariana Salvatore: Today we'll talk about what the U.S. government shutdown means for healthcare.
It's Thursday, October 30th at 12pm in New York. <...
M&A Poised to Gain Momentum
Our Head of Corporate Credit Research Andrew Sheets explains why the recent revival of M&A activity has room to accelerate.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley.
Today – a discussion of merger and acquisition activity or M&A. Last year, we had a view that this activity would pick up significantly. We think we're seeing that increase now. It has further to go.
It...
A Turnaround in Sight for Healthcare?
Our U.S. Biotech and Biopharma analysts Sean Laaman and Terence Flynn discuss the latest developments that could be positioning the healthcare sector for strong outperformance.
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Sean Laaman: Welcome to Thoughts on the Market. I'm Sean Laaman, Morgan Stanley's U.S. Small and Mid-Cap Biotech Analyst.
Terence Flynn: And I'm Terence Flynn, Morgan Stanley's U.S. Biopharma Analyst.
Sean Laaman: Today, we'll discuss how a rally in the healthcare sector is being driven by more fa...
Will the Stock Market Rally Continue?
Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses the outlook for stocks after the preliminary U.S.-China trade agreement and ahead of the Fed meeting and big tech earnings.
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Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today on the podcast I’ll be discussing the remaining hurdles for equities after what appears to be a preliminary trade deal with China.
It's...
What Happens to Software Developers as AI Can Code?
Our U.S. Software Analyst Sanjit Singh explains how AI is reshaping software development and why the future for the sector may be brighter – and busier – than ever.
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Welcome to Thoughts on the Market. I’m Sanjit Singh, the U.S. Software Analyst at Morgan Stanley.
Today: how AI is transforming software and what that means for developers.
It’s Friday, October 24th, at 10am in New York.
There's been a lot of news st...
Should AI Spending Worry Investors?
Our Head of Corporate Credit Research Andrew Sheets wades into the debate around whether the boom in artificial intelligence investment is a warning sign for credit markets.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley.
Today – the debate about whether elevated capital expenditure and AI technology is showing classic warning signs of overbuilding and worries for credit.
It's Thursday, October 23rd at 2pm in Lond...
The Next Turning Points in Tech
Our analysts Brian Nowak, Keith Weiss and Matt Bombassei break down the most important tech insights from Morgan Stanley’s Spark Private Company Conference and industry shifts that will likely shape 2026 and beyond.
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Brian Nowak: Welcome to Thoughts on the Market. I'm Brian Nowak, Morgan Stanley's Head of U.S. Internet Research. I'm joined today by Keith Weiss, Head of U.S. Software Research and Matt Bombassei from my team.
Today we're going to talk about private...
How to Navigate U.S.-China Tensions
Our Global Head of Fixed Income Research and Public Policy Michael Zezas discuss the latest developments in U.S.-China relations and how they could affect investors.
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Welcome to Thoughts on the Market. I’m Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.
Today, we’re talking about the U.S. and China—why the relationship remains complicated, and what it means for markets.
It’s Tuesday, Oct 21st, at 12:30pm in New York...
Time for a Bull Market Correction?
As the S&P 500 continues to rally, our CIO and Chief U.S. Equity Strategist Mike Wilson discusses three factors that could lead to a stock market correction in the near term.
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Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today on the podcast I'll be discussing why we are still in a new bull market even if a correction is likely in the near term.
It's...
U.S.-China Tensions: What Could Happen Next?
Our U.S. Public Policy Strategist Ariana Salvatore unpacks how China’s announced rare earth export controls and signals of sweeping U.S. tariffs could impact global supply chains, markets and economic growth.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's U.S. Public Policy Strategist.
Today I'll talk about a development keeping markets and investors on alert: a re-escalation of U.S. China trade tensions.
It's Friday, October 17th at 10a...
Credit Market’s Three Big Debates
With Morgan Stanley’s European Leveraged Finance Conference underway, our Head of Corporate Credit Research Andrew Sheets joins Chief Fixed Income Strategist Vishy Tirupattur to discuss private credit, M&A activity and AI infrastructure.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley
Vishy Tirupattur: And I'm Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist.
Andrew Sheets: Today, as we're hosting the Mo...
How Politics Affect Global Markets
Political developments in Japan and France have brought more volatility to sovereign debt markets. Our Global Economist Arunima Sinha highlights the risks investors need to watch out for.
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Political developments in Japan and France have brought more volatility to sovereign debt markets. Our Global Economist Arunima Sinha highlights the risks investors need to watch out for.
Arunima Sinha: Welcome to Thoughts on the Market. I'm Arunima Sinha, from Morgan Stanley's Global and U.S. Economics teams.
Asia’s Youth Job Crisis
Our Chief Asia Economist Chetan Ahya discusses how youth unemployment will impact future growth and stability across China, India, and Indonesia.
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Welcome to Thoughts on the Market. I’m Chetan Ahya, Morgan Stanley’s Chief Asia Economist.
Today – Asia’s young workforce is facing a significant challenge. How a soft labor market will shape everything from consumer demand to social stability and long-term growth.
It’s Tuesday, October 14th, at 2pm in Hong Kong.
Across Asia...
An M&A Boom for Financials
Morgan Stanley analysts Betsy Graseck and Michael Cyprys discuss what’s driving unprecedented consolidation for asset and wealth management firms.
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Betsy Graseck: Welcome to Thoughts on the Market. I'm Betsy Graseck, Morgan Stanley's U.S. Large Cap Banks Analyst and Global Head of Banks and Diversified Finance Research.
Michael Cyprys: And I'm Mike Cyprys, Head of U.S. Brokers, Asset Managers and Exchanges Research.
Betsy Graseck: The asset management and wealth management industries are on the...
An Unprecedented Wave of Inheritances Is Coming
Our U.S. Thematic and Equity Strategist Michelle Weaver discusses how the largest intergenerational wealth transfer in history could reshape saving, spending and investment behavior across America.
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Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, Morgan Stanley's U.S. Thematic and Equity Strategist.
Today, a powerful force reshaping the financial lives of millions of Americans: inheritance.
It's Friday, October 10th at 10am in New York.
Americans are living longer and they're...
Lessons From a Bond Issued 90 Years Ago
Diving into the history of Morgan Stanley’s first bond deal, our Head of Corporate Credit Research Andrew Sheets explains the value of high-quality corporate bonds.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley.
Today, a look at the first bond that Morgan Stanley helped issue 90 years ago and what it might tell us about market uncertainty.
It's Thursday, October 9th at 4pm in London.
When Will the Shutdown Affect Markets?
An extended U.S. government shutdown raises the risk for weaker growth potential. Our Global Head of Fixed Income Research and Public Policy Strategy Michael Zezas suggests key checkpoints that investors should keep in mind.
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Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.
Today: Three checkpoints we’re watching for as the U.S. government shutdown continues.
It’s Wednesday, October 8th at 10:30am in New Yor...
Get Ready for a Steeper Yield Curve
Our Fixed Income Strategist Vishy Tirupattur explains how changes in the yield curve are affecting markets such as insurance, Treasury yields and mortgage rates.
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Vishy Tirupattur: Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley’s Chief Fixed Income Strategist.
Today – How the shape of the yield curve has affected credit and housing markets, and the risk of changes to the curve and its implications.
It’s Tuesday, October 7th at 1pm in New Yor...
How Asia Is Reinventing Itself for Global Competition
Our strategists Daniel Blake and Tim Chan discuss how Asia is adapting to multipolar world dynamics, tech innovation and longevity trends to create new opportunities for global investors.
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Daniel Blake: Welcome to Thoughts on the Market. I'm Daniel Blake, Morgan Stanley's Asia Equity and Thematic Strategist.
Tim Chan: And I'm Tim Chan, Morgan Stanley Head of Asia Sustainability Research and Thematic Strategist
Daniel Blake: Today, how Asia is reshaping its development strategy, corporate governance, and capital ma...
Introducing: What Should I Do With My Money: Season 3
Have you ever wondered -- How much do I really need to retire early and am I on track? How do I balance all of my financial goals? How can I help my children be financially secure? Tune into Season 3 of What Should I Do With My Money, hosted by Morgan Stanley Wealth Management’s Jamie Roô to hear real-life stories about these and other big financial questions.
China’s Biotech Revolution
Our China Healthcare Analyst Jack Lin discusses how China’s biotech surge is reshaping healthcare, investment and innovation worldwide.
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Jack Lin: Welcome to Thoughts on the Market. I'm Jack Lin, from Morgan Stanley's China Healthcare Team.
Today, the boom in China biotech – and how it's not just a headline for China-focused investors, but a story that touches all of us.
It is Friday, October 3rd at 2pm in Hong Kong.
Many people might not r...
Opportunities From China’s Policy Shifts
Our Chief China Equity Strategist Laura Wang discusses how China’s new approach to economic development is transforming domestic industries and reshaping the global investment landscape.
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Welcome to Thoughts on the Market. I’m Laura Wang, Morgan Stanley’s Chief China Equity Strategist.
Today – a consequential shift in China's economic policy is set to reshape domestic markets and send ripples across the global economy.
It’s Thursday, October 2nd at 2pm in Hong Kong...
Will U.S. Inflation Slow in 2026?
In the second of a two-part episode, Morgan Stanley’s chief economists talk about their near-term U.S. outlook based on tariffs, labor supply and the Fed’s response. They also discuss India’s path to strong economic growth.
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Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist. Yesterday I sat down with my colleagues, Mike Gapen, Chetan Ahya and Jens Eisenschmidt, who cover the U.S., Asia, and Europe respectively. We talked...
Tackling Economic Hurdles in Europe and Asia
Morgan Stanley’s chief economists discuss how policymakers in China, Japan and the European Union are addressing slower growth, deflation or the return of inflationary pressures.
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Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist.
Well, a lot has changed since the second quarter and the last time we did one of these around the world economics roundtable. After an extended pause, the United States Federal Reserve started cutting rates...
Will the Fed End the Party?
Despite large deficits, booming capital expenditures and a looser regulatory environment, the Fed appears poised to cut rates further to support the slowing labor market. This could set the stage for a level of corporate risk-taking not seen since the 1990s.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley.
Today, a look at the forces that could heat up corporate activity in 2026 – if the labor market...
Investors Monitor Washington’s Ticking Budget Clock
Our Global Head of Thematic and Fixed Income Research Michael Zezas and our U.S. Public Policy Strategist Ariana Salvatore unpack the market and economic implications of a looming government shutdown.
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Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy.
Ariana Salvatore: And I'm Ariana Salvatore, U.S. Public Policy Strategist.
Michael Zezas: Today, our focus is once again on Washington – as the U.S...
When Will the U.S. Housing Market Reactivate?
Our Co-Head of Securitized Products Research James Egan joins our Chief Economic Strategist Ellen Zentner to discuss the recent challenges facing the U.S. housing market, and the path forward for home buyers and investors.
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James Egan: Welcome to Thoughts on the Market. I'm James Egan, U.S. Housing Strategist and Co-Head of Securitized Products Research for Morgan Stanley.
Ellen Zentner: And I'm Ellen Zentner, Chief Economic Strategist and Global Head of Thematic and Macro Investing at Morg...
Capital Markets Pick Up as U.S. Policy Settles
Our Global Head of Fixed Income Research and Public Policy Strategy, Michael Zezas, examines growth in IPOs and M&A amid greater certainty around trade, immigration and regulation.
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Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.
Today, let’s talk about how changes in U.S. policy are shaping the markets in 2025—and why we’re seeing a pickup in capital markets activity.
It’s Wedne...
A Good ‘Perfect Storm’ for India
Our Head of India Research Ridham Desai and leaders from Morgan Stanley Investment Management Arjun Saigal and Jitania Kandhari discuss how India’s promising macroeconomic trajectory and robust capital markets are attracting more interest from global investors.
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Ridham Desai: Welcome to Thoughts on the Market. I'm Ridham Desai, Morgan Stanley’s Head of India Equity Research and Chief India Equity Strategist.
Today, the once in a generation investment opportunities Morgan Stanley sees in India.
Joining me i...
Why the ‘Rolling Recovery’ Has Already Begun
Our CIO Mike Wilson joins U.S. Equity strategist Andrew Pauker to answer frequently asked questions about their latest economic outlook, including how U.S. equities are transitioning to a new bull market.
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Mike Wilson: Welcome to Thoughts on the Market. I'm Mike Wilson. Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today we're going to try something a little different. I have my colleague, Andrew Pauker from the U.S. Equity S...
Can the Fed’s Move Boost Global Credit?
With this week’s announcement of a rate cut and further cuts in the offing, the Fed seems willing to let the U.S. economy run a little hot. Our Head of Corporate Credit Andrew Sheets explains why this could give an unexpected boost to the European bond market.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Head of Corporate Credit Research at Morgan Stanley.
Today – a Fed that looks willing to let the economy run...
Weighing Fed Cut Against Jobs and Inflation Risks
On Wednesday, the Fed announced its first rate cut in nine months. While the reduction was widely expected, our Global Head of Macro Strategy Matthew Hornbach and Chief U.S. Economist Michael Gapen explain the data that markets and the Fed are watching.
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Matthew Hornbach: Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy.
Michael Gapen: And I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist.
Matthew Hornbach: Our topic toda...
Special Encore: AI Takes the Wheel
Original Release Date: August 21, 2025
From China’s rapid electric vehicle adoption to the rise of robotaxis, humanoids, and flying vehicles, our analysts Adam Jonas and Tim Hsiao discuss how AI is revolutionizing the global auto industry.
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Adam Jonas: Welcome to Thoughts on the Market. I'm Adam Jonas. I lead Morgan Stanley's Research Department's efforts on embodied AI and humanoid robots.
Tim Hsiao: And I'm Tim Hsiao, Greater China Auto Analyst.
Adam Jonas: Today – how the glob...
How U.S. Industry Is Reinventing Itself
Our strategists Michelle Weaver and Adam Jonas join analyst Christopher Snyder to discuss the most important themes that emerged from the Morgan Stanley Annual Industrials Conference in Laguna Beach.
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Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, Morgan Stanley's U.S. Thematic Strategist.
Christopher Snyder: I'm Chris Snyder, Morgan Stanley's U.S. Multi-Industry Analyst.
Adam Jonas: And I'm Adam Jonas, Morgan Stanley's Embodied AI Strategist.
Michelle Weaver: We recently concluded Morg...
Can Fed Cuts Bring Mortgage Rates Down?
For investors looking to make sense of housing-related assets amidst changes in Fed policy stance, our co-heads of Securitized Product Research Jay Bacow and James Egan offer their perspective on mortgage rates and the market.
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James Egan: Welcome to Thoughts on the Market. I'm Jim Egan, co-head of Securitized Products Research at Morgan Stanley.
Jay Bacow: I'm Jay Bacow, the other co-head of Securitized Products Research at Morgan Stanley.
Today we're talking about the Fed, mort...
How Cybersecurity Is Reshaping Portfolios
Online crime is accelerating, making cybersecurity a fast-growing and resilient investment opportunity. Our Cybersecurity and Network and Equipment analyst Meta Marshall discusses the key trends driving this market shift.
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Welcome to Thoughts on the Market. I’m Meta Marshall, Morgan Stanley’s Cybersecurity and Network and Equipment Analyst. Today – the future of digital defense against cybercrime.
It’s Friday, September 12th, at 10am in New York.
Imagine waking up to find your bank account drained, you...
What’s Next for the India-China Trade?
Our Chief Asia Economist Chetan Ahya discusses how the evolving trade relationship between India and China could redefine global supply chains and unlock new investment opportunities.
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Welcome to Thoughts on the Market. I’m Chetan Ahya, Morgan Stanley’s Chief Asia Economist.
Today – one of the most important economic relationships of our time: India and China. And what the future may hold.
It’s Thursday, September 11th at 2 pm in Hong Kong.
Trade dynamics...
Why Gold Still Holds Glitter in Markets
Our Metals & Mining Commodity Strategist Amy Gower discusses her bullish outlook for gold and what the metal’s rally in 2025 says about inflation, central banks, and global risk.
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Welcome to Thoughts on the Market. I’m Amy Gower, Morgan Stanley’s Metals & Mining Commodity Strategist.
Today, we’re talking about gold, a metal that’s more than just a safe haven for investors, and what it tells us about the global economy and markets right now.
It’s Wed...
Can AI Make Healthcare Less Expensive?
Many Americans struggle with the rising cost of healthcare. Analysts Terence Flynn and Erin Wright explain how AI might bend the cost curve, from Morgan Stanley’s 23rd annual Global Healthcare Conference in New York.
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Terence Flynn: Welcome to Thoughts on the Market. I'm Terence Flynn, Morgan Stanley's U.S. Biopharma Analyst.
Erin Wright: And I'm Erin Wright, U.S. Healthcare Services Analyst.
Terence Flynn: Thanks for joining us. We're actually in the midst of t...
