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.
AI as New Global Power?
Our Deputy Head of Global Research Michael Zezas and Stephen Byrd, Global Head of Thematic and Sustainability Research, discuss how the U.S. is positioning AI as a pillar of geopolitical influence and what that means for nations and investors.
Read more insights from Morgan Stanley.
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Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Morgan Stanley's Deputy Head of Global Research.
Stephen Byrd: And I'm Stephen Byrd, Global Head of Thematic and Sustainability Research.
Michael Zezas: Today – is AI b...
Oil Rallies on Fresh Uncertainty
Our Global Commodities Strategist Martijn Rats discusses the geopolitical drivers behind the recent spike in oil prices and outlines four Iran scenarios.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market. I’m Martijn Rats, Morgan Stanley’s Global Commodities Strategist.
Today – what’s fueling the latest oil market rally.
It’s Thursday, February 26th, at 3pm in London.
What happens when oil prices jump, even though there’s no actual shortage of oil? That’s the situatio...
Special Encore: For Better or Warsh
Original Release Date: Feb 6, 2026
Our Global Head of Fixed Income Research Andrew Sheets and Global Chief Economist Seth Carpenter unpack the inner workings of the Federal Reserve to illustrate the challenges that Fed chair nominee Kevin Warsh may face.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Seth Carpenter: And I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research.
Andrew...
Why Stocks Keep Rising Despite AI Anxiety
Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why he still believes in a growth cycle for equity markets, even as investors show growing concerns around AI.
Mike Wilson: 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 recent concerns around AI disruption.
It's Tuesday, February 24th at 1pm in New York.
So, let's get after it.
Last week you could feel it, that anxious undercurrent in the...
Global Trade in Flux: What’s Next After Tariff Ruling
The Supreme Court's latest ruling on tariffs has thrown existing trade agreements into uncertainty. Our Head of Public Policy Research Ariana Salvatore and Arunima Sinha, from the U.S and Global Economics teams break down the fallout.
Read more insights from Morgan Stanley.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research.
Arunima Sinha: And I am Arunima Sinha on the U.S. and Global Economics teams.
Ariana Salvatore: Today we'll be talking about t...
AI at Work: The Transformation Is Already Underway
Our Head of European Sustainability Research Rachel Fletcher talks about how AI’s is quickly reshaping employment and productivity across key industries and regions.
Read more insights from Morgan Stanley.
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Rachel Fletcher: Welcome to Thoughts on the Market. I am Rachel Fletcher, Head of European Sustainability Research at Morgan Stanley.
Today, how AI is shaking up the global job market.
It's Friday, February 20th at 2pm in London.
You've probably asked yourself when all the excitement around AI is going...
Could the U.S. Target a Weaker Dollar?
Our Global Head of FX and EM Strategy James Lord and Global Chief Economist Seth Carpenter discuss what’s driving the U.S. policy for the dollar and the outlook for other global currencies.
Read more insights from Morgan Stanley.
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James Lord: Welcome to Thoughts on the Market. I’m James Lord, Global Head of FX and EM Strategy at Morgan Stanley.
Seth Carpenter: And I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research.
James Lord: Today we're t...
The Political Cost of the AI Buildout
More Americans are blaming the AI infrastructure expansion for rising electricity bills. Our Head of Public Policy Research Ariana Salvatore explains how the topic may influence policy announcements ahead of the midterm elections.
Read more insights from Morgan Stanley.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research for Morgan Stanley.
Today I'll be talking about the relationship between affordability, the data center buildout, and the midterm elections.
It's Wednesday, February 18th at 10am in...
A Novel Way to Shop Online
Our Head of U.S. Internet Research Brian Nowak joins U.S. Small and Mid-Cap Internet Analyst Nathan Feather to explain why the future of agentic commerce is closer than you think.
Read more insights from Morgan Stanley.
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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
Nathan Feather: And I'm Nathan Feather, U.S. Small and Mid-Cap Internet Analyst.
Brian Nowak: Today, how AI-powered shopping assistants are set to re...
Introducing Hard Lessons
Iconic investors sit down with Morgan Stanley leaders to go behind the scenes on the critical moments – both successes and setbacks – that shaped who they are today.
Watch and listen to the series on your favorite platform.
Why a Tariff Ruling Could Mean Consumer Relief
Arunima Sinha, from the U.S. and Global Economics team, discusses how an upcoming Supreme Court decision could reshape consumer prices, retail margins and the inflation outlook in 2026.
Read more insights from Morgan Stanley.
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Arunima Sinha: Welcome to Thoughts on the Market. I'm Arunima Sinha from Morgan Stanley's U.S. and Global Economics Teams.
Today: How a single Supreme Court ruling could change the tariff math for U.S. consumers.
It's Friday, February 13th at 10am in New York.
...
Signs That Global Growth May Be Ahead
Our Global Head of Fixed Income Research Andrew Sheets explains how key market indicators reflect a constructive view around the global cyclical outlook, despite a volatile start to 2026.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today I'm going to talk about the unusual alignment of a number of key indicators.
It's Thursday, February 12th at 2pm in London.
A frustr...
The Future of North American Trade
With the U.S.-Canada-Mexico Agreement coming up for review, our Head of Public Policy Research Ariana Salvatore unpacks whether our 2025 call for deeper trade integration still holds.
Read more insights from Morgan Stanley.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research for Morgan Stanley.
Today I'll be talking about our expectations for the upcoming USMCA review, and how the landscape has shifted from last year.
It's Wednesday, February 11th at 4pm in Lo...
A Thematic Look at Market Volatility
Our Global Head of Thematic and Sustainability Research Stephen Byrd and U.S. Thematic and Equity Strategist Michelle Weaver lay out Morgan Stanley’s four key Research themes for 2026, and how those themes could unfold across markets for the rest of the year.
Read more insights from Morgan Stanley.
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Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Byrd, Global Head of Thematic and Sustainability Research.
Michelle Weaver: And I'm Michelle Weaver, U.S. Thematic and Equity Strategist.
Stephen Byrd: I wa...
Why Latin America’s ‘Trifecta’ Could Reshape Global Portfolios
Our Chief LatAm Equity Strategist Nikolaj Lippmann discusses why Latin America may be approaching a rare “Spring” moment – where geopolitics, peaking rates, and elections set the scene for an investment-led growth cycle with meaningful market upside.
Read more insights from Morgan Stanley.
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Nikolaj Lippmann: Welcome to Thoughts on the Market. I'm Nikolaj Lippmann, Morgan Stanley’s Chief Latin America Equity Strategist.
If you ever felt like Latin America is too complicated to follow, today's episode is for you.
It's Monday, February 9th...
For Better or Warsh
Our Global Head of Fixed Income Research Andrew Sheets and Global Chief Economist Seth Carpenter unpack the inner workings of the Federal Reserve to illustrate the challenges that Fed chair nominee Kevin Warsh may face.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Seth Carpenter: And I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research.
Andrew Sheets: And today on the...
The Fed’s Course Under a New Chair
Our Global Head of Macro Strategy Matthew Hornbach and Chief U.S. Economist Michael Gapen discuss the path for U.S. interest rates after the nomination of Kevin Warsh for next Fed chair.
Read more insights from Morgan Stanley.
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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: Today we'll be talking about the Federal Open Market Committee meeting that oc...
Affordability Takes Center Stage in U.S. Policy
Affordability is back in focus in D.C. after the brief U.S. shutdown. Our Deputy Global Head of Research Michael Zezas and Head of Public Policy Research Ariana Salvatore look at some proposals in play.
Read more insights from Morgan Stanley.
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Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley.
Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research.
Michael Zezas: Today we're discussing the continued focus on affo...
A New Playbook for Equity Investors
Our Chief Cross-Asset Strategist Serena Tang and senior leaders from Investment Management Andrew Slimmon and Jitania Kandhari unpack new investment trends from supportive monetary and fiscal policy and shifting market leadership.
Read more insights from Morgan Stanley.
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Serena Tang: Welcome to Thoughts on the Market. I'm Serena Tang, Morgan Stanley's Chief Cross Asset Strategist. Today we're revisiting the 2026 global equity outlook with two senior leaders from Morgan Stanley Investment Management.
Andrew Slimmon: I am Andrew Slimmon, Head of Applied Equity Team within Morgan...
New Fed Chair, New Market Signals
Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses how the nomination of Kevin Warsh to lead the Fed could move markets.
Read more insights from Morgan Stanley.
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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: The implications of Kevin Warsh’s nomination as the next Fed Chair.
It's Monday, February 2nd at 10 am in New York.
So, let’s get after it.
...Why Markets Should Keep Running Hot
Our Global Head of Fixed Income Andrew Sheets discusses key market metrics indicating that valuations should stay higher for longer, despite some investors’ concerns.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today I'm going to talk about key signposts for stability – in a world that from day to day feels anything but.
It's Friday, January 30th at 2pm in London.
A co...
Special Encore: What’s Driving European Stocks in 2026
Original Release Date: January 16, 2026
Our Head of Research Product in Europe Paul Walsh and Chief European Equity Strategist Marina Zavolock break down the main themes for European stocks this year.
Read more insights from Morgan Stanley.
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Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's Head of Research Product here in Europe.
Marina Zavolock: And I'm Marina Zavolock, Chief European Equity Strategist.
Paul Walsh: Today, we are here to talk about the big debates for Eur...
The Stakes of Another Government Shutdown
Our Deputy Head of Global Research Michael Zezas explains why the risk of a new U.S. government shutdown is worth investor attention, but not overreaction.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market. I’m Michael Zezas, Deputy Head of Global Research for Morgan Stanley.
Today, we’ll discuss the possibility of a U.S. government shutdown later this week, and what investors should – and should not – be worried about.
It’s Wednesday, January 28th at 10:30 am in...
A Rebound for Hong Kong’s Property Market
Our Head of Asian Gaming & Lodging and Hong Kong/India Real Estate Research Praveen Choudhary discusses the first synchronized growth cycle for Hong Kong’s major real estate segments in almost a decade.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market. I’m Praveen Choudhary, Morgan Stanley’s Head of Asian Gaming & Lodging and Hong Kong/India Real Estate Research.
Today – a look at a market that global investors often watch but may not fully appreciate: Hong Kong real estate...
Four Key Themes Shaping Markets in 2026
Our Global Head of Thematic and Sustainability Research Stephen Byrd discusses Morgan Stanley’s key investment themes for this year and how they’re influencing markets and economies.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market. I’m Stephen Byrd, Morgan Stanley’s Global Head of Thematic and Sustainability Research.
Today – the four key themes that will define markets and economies in 2026.
It’s Monday, January 26th, at 10am in New York.
If you're feeling overwhelmed...
How Consumers, CapEx and Fiscal Policy Are Driving Growth
In the second of their two-part roundtable, Seth Carpenter and Morgan Stanley’s top economists break down the forces influencing growth across different regions.
Read more insights from Morgan Stanley.
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Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. And yesterday I sat down with my colleagues, Michael Gapen, our Chief U.S. Economist, Chetan Ahya, our Chief Asia Economist, and Jen Eisenschmidt, our Chief Europe Economist. And we spent a lot of tim...
Mapping Global Central Bank Paths
Our Global Chief Economist Seth Carpenter joins our chief regional economists to discuss the outlook for interest rates in the U.S., Japan and Europe.
Read more insights from Morgan Stanley.
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Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. And today we're kicking off our quarterly economic roundtable for the year. We're going to try to think about everything that matters in economics around the world. And today we're going to foc...
Pricing in Trump’s Speech at Davos
All eyes have been on President Trump’s address at the World Economic Forum. Michael Zezas, our Deputy Global Head of Research, and Ariana Salvatore, our Head of Public Policy Research, talk about potential implications for policy and the U.S. outlook.
Read more insights from Morgan Stanley.
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Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley.
Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research.
Michael Zezas: Today we...
Housing Market: Limited Impact from Policy
Our co-heads of Securitized Products Jay Bacow and James Egan explain why recent U.S. government measures won’t change much the outlook for mortgage rates, home prices and sales this year.
Read more insights from Morgan Stanley.
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Jay Bacow: Jim Egan, I see you sitting across from me wearing a quarter zip. As old things become new again, my teenager would think that is trendy.
James Egan: I think this is one of, if not the first, times in my life that a...
What’s Driving European Stocks in 2026
Our Head of Research Product in Europe Paul Walsh and Chief European Equity Strategist Marina Zavolock break down the main themes for European stocks this year.
Read more insights from Morgan Stanley.
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Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's Head of Research Product here in Europe.
Marina Zavolock: And I'm Marina Zavolock, Chief European Equity Strategist.
Paul Walsh: Today, we are here to talk about the big debates for European equities moving into 2026.
I...
The Boost From Easing Market Rules
Our Global Head of Fixed Income Research Andrew Sheets looks at the implications of the U.S. government’s efforts to ease regulations, from bank balance sheets to asset valuations.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today, a core theme of easing policy, and the latest iteration in the U.S. mortgage market.
It's Thursday, January 15th at 2pm in London...
The Case for India’s Market Comeback
Our Head of India Research and Chief India Equity Strategist Ridham Desai addresses a big debate: whether India stocks are poised for a recovery after underperforming other emerging markets in 2025.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market. I’m Ridham Desai, Morgan Stanley’s Head of India Research and Chief India Equity Strategist.
Today: one of the big debates in Asia this year. Can Indian equities recover their strength after a historic slump?
It’s Wednesday, J...
Will U.S. Manufacturing See a 2026 Boom?
Our U.S. Thematic Strategist Michelle Weaver and U.S. Multi-Industry Analyst Chris Snyder discuss a North America Big Debate for 2026: Whether investments in efficiency and productivity will spark a transformation of U.S. manufacturing.
Read more insights from Morgan Stanley.
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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.
Chris Snyder: I'm Chris Snyder, U.S. Multi-Industry Analyst.
Michelle Weaver: Today: Will 2026 be the year of U.S. Manufacturing's transfor...
Why Markets Stay Steady Amid Venezuela Developments
Our Chief Fixed Income Strategists Vishy Tirupattur discusses the calm market reaction to the latest developments in Venezuela and the potential implications for oil, stocks and bonds.
Read more insights from Morgan Stanley.
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Vishy Tirupattur: Welcome to thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley’s Chief Fixed Income Strategist.
On today’s podcast, I will talk about the markets’ response to the complex political developments in Venezuela, and examine the opportunities and risks it presents to the markets.
It is Mo...
Signals Align for a Growth Cycle
Our Global Head of Fixed Income Research Andrew Sheets takes a look at multiple indicators that are pointing on the same direction: strong growth for markets and the economy.
Read more insights from Morgan Stanley.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today I'm going to talk about an unusual alignment of signs of optimism for the global cyclical backdrop and why these are important to watch.
It's...
Driverless Cars Take the Fast Lane
Our Head of U.S. Internet Research Brian Nowak and Andrew Percoco, Head of North America Autos and Shared Mobility Research, discuss why adoption of autonomous vehicles is likely to gain traction this year.
Read more insights from Morgan Stanley.
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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.
Andrew Percoco: And I'm Andrew Percoco, Head of North America Autos and Shared Mobility Research.
Brian Nowak: Today we're going to talk ab...
A Revolution in Credit Markets
Our Chief Fixed Income Strategist Vishy Tirupattur is joined by Dan Toscano, the firm’s Chairman of Markets in Private Equity, unpack how credit markets are changing—and what the AI buildup means for the road ahead.
Read more insights from Morgan Stanley.
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Vishy Tirupattur: Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist.
Today is a special edition of our podcast. We are joined by Dan Toscano, Chairman of Markets in Private Equity at Morgan Stanle...
How Venezuela Events Could Affect Markets and Policy
Our Deputy Director of Global Research Michael Zezas and our U.S. Public Policy Strategist Ariana Salvatore discuss the implications of the U.S action in Venezuela for global markets, foreign and domestic policy.
Read more insights from Morgan Stanley.
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Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley.
Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research.
Michael Zezas: Today we're talking about the latest events in Venezue...
The Bullish Signals That Investors Overlook
Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses key catalysts that investors may be missing, but that are likely to boost U.S. equities in 2026.
Read more insights from Morgan Stanley.
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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 converging market forces bolstering our bullish outlook for 2026.
It's Monday, January 5th at 11:30am in New York.
So, let’s ge...
Bigger Tax Refunds Likely to Power the Economy
Our U.S. Economist Heather Berger discusses how larger tax refunds in 2026 could boost income and help support consumer balance sheets throughout the year.
Read more insights from Morgan Stanley.
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Welcome to Thoughts on the Market and Happy New Year! I’m Heather Berger, from Morgan Stanley’s US Economics Team. On today’s episode – why U.S. consumers can expect higher tax refunds, and what that means for the overall economy. It’s Friday, January 2nd, at 10am in New York.
As we kick...
