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.
Andrew Sheets: Unresolved Questions Create Market Uncertainty
Optimistic investors have pushed stocks and bond yields to the high end of the recent range. But inflation, banks and the debt ceiling status are still raising questions that have gone unanswered.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross-Asset Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Friday, May 26th at 2 p.m. in London.
A h...
Jonathan Garner: Japan’s Equities Continue to Rally
While Japan's equities have continued to rally, a roster of sector leading companies and a weak Yen could signal this bullish story is only just beginning.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Jonathan Garner, Chief Asia and Emerging Market Equity Strategist at Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be sharing why Japan Equities could be a key part of the bullish story in Asia this year. It's Thursday, May the 25th at 10 a.m. in New York.
Michael Zezas: The G7 Meeting and its Impact on Markets
Discussions at the recent Group of Seven Nations meeting point to the continued development of a multipolar world, as supply chains become less global and more local. Investors should watch for opportunities in this disruption.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the recent G7 meetings and its implications for markets. It's Wednesday, May 24th at 9 a.m. in New York.
U.S Housing: Is there Still Strength in the Housing Market?
As the confidence level of homebuilders building new homes is increasing, will home sales go along with it? Jim Egan and Jay Bacow, Co-Heads of U.S. Securitized Products Research discuss.
----- Transcript -----
Jim Egan: Welcome to Thoughts on the Market. I'm Jim Egan, Co-Head of U.S. Securitized Products Research here at Morgan Stanley.
Jay Bacow: And I'm Jay Bacow, the other Co-Head of U.S. Securitized Products Research.
Jim Egan: And on this episode of the podcast, we'll be di...
Mike Wilson: Beware a False Market Breakout
Though the current market narrative has turned bullish, it may not withstand a downturn in earnings.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Monday, May 22nd at 11a.m in New York. So let's get after it.
For the past six months, the S&P 500 has been trading i...
Ellen Zentner: Is a Soft Landing for the U.S. Still Possible?
While the U.S. economy looks to be on track for a soft landing in 2023, even the smallest of setbacks could spell trouble for the end of the year.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Ellen Zentner, Morgan Stanley's Chief U.S. Economist. Along with my colleagues bringing you a variety of perspectives, today I'll discuss our view around the soft landing for the U.S. economy. It's Friday, May 19th, at 10 a.m. in New York.
Last year, we presented our outlook t...
Andrew Sheets: Is Market Volatility on the Decline?
Although markets remain calm for now, incoming developments across the debt ceiling, inflation and monetary policy could quite quickly turn the tide.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross-Asset Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Thursday, May 18th at 2 p.m. in London.
A notable aspect of the current market is its serenity. Over t...
Vishy Tirupattur: The Outlook for Lending
According to the Federal Reserve’s latest Senior Loan Officer Opinion Survey, small businesses may be the most vulnerable to banks tightening their lending standards.
----- Transcript -----
Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the takeaways from the Senior Loan Officer Opinion Survey. It's Wednesday, May 17th at 10 a.m. in New York.
We've talked a lot about the effects of the turmoil in...
Mike Wilson: Investors Face Uncertainty in Stock Performance
As investors attempt to find opportunities in an uncertain stock market, earnings disappointments and an ongoing debt ceiling debate loom overhead.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Tuesday, May 16th, at 1 p.m. in New York. So let's get after it.
Having spent the last few weeks o...
Special Encore: Mark Purcell: The Evolution of Cancer Medicines
Original Release on April 20th, 2023: "Smart chemotherapy" could change the way that cancer is treated, potentially opening up a $140 billion market over the next 15 years.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mark Purcell, Head of Morgan Stanley's European Pharmaceuticals Team. Along with my colleagues bringing you a variety of perspectives, today I'll talk about the concept of Smart Chemotherapy. It's Thursday, the 20th of April at 2 p.m. in London.
Cancer is still the second leading cause of death globally, accounting for approximately 10 m...
Sustainability: Tech Transformation in the Education Market
With technology evolving rapidly in education, investors are taking a closer look at how it will financially impact the global education market. Stephen Byrd and Josh Baer discuss.
----- Transcript -----
Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Byrd, Morgan Stanley's Global Head of Sustainability Research.
Josh Baer: And I'm Josh Baer from the U.S. Software Team.
Stephen Byrd: On the special episode of the podcast will discuss the global education market. It's Friday, May 12th at 10 a.m. in...
Erik Woodring: Are PCs on the Rebound?
While personal computer sales were on the decline before the pandemic, signs are pointing to an upcoming boost.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Erik Woodring. Morgan Stanley's U.S. IT Hardware Analyst. Along with my colleagues, bringing you a variety of perspectives, today I'll discuss why we're getting bullish on the personal computer space. It's Thursday, May 11th, at 10 a.m. in New York.
PC purchases soared during COVID, but PCs have since gone through a once in a three decades type of...
Michael Zezas: Debt Ceiling Uncertainty and Financial Markets
With the debt ceiling debate seemingly making little headway, it may be critical for investors to track market developments in the near future.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic Research for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the debt ceiling and its impact on markets. It's Wednesday, May 10th at 10 a.m. in New York.
Congressional leaders met at the White H...
Martijn Rats: A Change in the Global Oil Market
As oil data in 2023 shows that second-half tightening is less likely, it may be time to alter the narrative around the expected market for the remainder of the year.
Important note regarding economic sanctions. This recording references country/ies which are generally the subject of selective sanctions programs administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the European Union and/or by other countries and multi-national bodies. Any references in this recording to entities, debt or equity instruments, projects or persons that may be covered by such sancti...
Mike Wilson: Earnings, The Fed and Consumer Spending
With all the volatility surrounding the banking sector, the Fed raising rates and the continued debt ceiling debate, are consumers finally pulling back on spending?
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues bringing a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Monday, May 8th, at 11 a.m. in New York. So let's get after it.
In this week's po...
Andrew Sheets: The Prospect of a Pause in Rate Hikes
The Federal Reserve pausing on hiking interest rates has historically been good for markets. But given current conditions, history may not repeat itself.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross-Assets Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Friday, May 5th at 2 p.m. in London.
The Federal Reserve raised interest rates 25 basis points this week a...
Graham Secker: Will European Equity Resilience Continue?
The banking sector appears stronger in Europe than it does in the U.S., but some other European sectors may be at risk of lower profitability.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Graham Secker, Head of Morgan Stanley's European Equity Strategy Team. Along with my colleagues bringing you a variety of perspectives, I'll be talking about our latest thoughts on European equities. It's Thursday, May the 4th at 3 p.m. in London.
Over the last couple of months, we have seen global technology s...
Michael Zezas: Congress Contends with the Debt Ceiling
Congress is finally set to begin debt ceiling negotiations. What are some possible outcomes and how might the negotiations affect economic growth?
----- Transcript -----
Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic Research for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the debt ceiling and its impact on markets. It's Wednesday, May 3rd at 9 a.m. in New York.
Earlier this week, the Treasury Department informed Congress that at t...
Global Economy: Global Challenges Drive Productivity Investment
With the trend toward a multipolar world accelerating, companies are finding that investing in productivity may help protect margins. Ravi Shanker and Diego Anzoategui discuss.
----- Transcript -----
Ravi Shanker: Welcome to Thoughts on the Market. I'm Ravi Shanker, Morgan Stanley's North American Freight Transportation Analyst.
Diego Anzoategui: And I'm Diego Anzoategui from the U.S. Economics Team.
Ravi Shanker: And on this special episode of the podcast, we discuss what we see as The Great Productivity Race, that's poised to accelerate. It...
Vishy Tirupattur: Liquidity, Regional Banks and Potential Regulation
As the banking sector is in the news again, investors wonder about an increase in borrowing from the Fed and possible restrictions on the horizon.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the ongoing tensions in the regional banking sector. It's Monday, May 1st at 2 p.m. in New York.
At the outset, I would note that the news we woke up to...
Ed Stanley: The Risky Path to a Multipolar World
With the world moving towards a more complex and decentralized multipolar structure, how will technology and infrastructure markets fare going forward?
----- Transcript -----
Welcome to Thoughts on the Market. I'm Ed Stanley, Morgan Stanley's Head of Thematic Research in Europe. Along with my colleagues bringing you a variety of perspectives, today I'll be talking about the complex issue of security in the multipolar world.
For some time, the world has been trending away from a globalized, unipolar structure characterized by stability and mutual cooperation. And in i...
Matthew Hornbach: The Return of Government Bonds
While government bonds have been less than desirable investments for the past two years, the tide may be turning on bond returns.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about global macro trends and how investors can interpret these trends for rates and currency markets. It's Thursday, April 27th at 2 p.m. in New York.
Over the past 2 years, government bonds h...
Michael Zezas: The Great Productivity Race
As multinational companies look towards a future of higher innovation costs and a shrinking labor pool, some corporate sectors may fare better than others in the multipolar world.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic Research for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the great productivity race and the multipolar world. It's Wednesday, April 26th at 9 a.m. in New York.
Client questions this week h...
Andrew Sheets: The U.S. Dollar and Cross-Asset Portfolios
With many investors predicting the U.S. dollar to continue to weaken, its potential for diversification and high yields may indicate otherwise.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross-Assets Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Tuesday, April 25th at 2 p.m. in London.
The U.S. dollar has fallen about 11% from its highs last S...
Sustainability: Decarbonization in the Steel Industry
The drive to reduce carbon emissions could trigger the biggest transformation of the steel industry in decades. Global Head of Sustainability Research, Stephen Byrd, Head of European Metals and Mining Research, Alain Gabriel, and Head of the Americas Basic Materials Team, Carlos De Alba, discuss.
----- Transcript -----
Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Byrd, Morgan Stanley's Global Head of Sustainability Research.
Alain Gabriel: And I’m Alain Gabriel, Head of Europe Metals and Mining Research.
Carlos De Alba...
Andrew Sheets: What is Behind Equity Market Strength?
With equity markets showing strength in the face of slowing growth, investors are left wondering how, or if, they can remain resilient.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross Assets Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Friday, April 21st at 2 p.m. in London.
Meeting with investors over the last several weeks, there's one q...
Mark Purcell: The Evolution of Cancer Medicines
"Smart chemotherapy" could change the way that cancer is treated, potentially opening up a $140 billion market over the next 15 years.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mark Purcell, Head of Morgan Stanley's European Pharmaceuticals Team. Along with my colleagues bringing you a variety of perspectives, today I'll talk about the concept of Smart Chemotherapy. It's Thursday, the 20th of April at 2 p.m. in London.
Cancer is still the second leading cause of death globally, accounting for approximately 10 million deaths worldwide in 2020. Despite r...
Michael Zezas: The Costs of a Multipolar World
Recent interactions between China and Europe signal a continuing reorganization of global commerce around multiple power bases, bringing new and familiar challenges for companies.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the U.S.-China relationship and the shift to a multipolar world. It's Wednesday, April 19th, at 9 p.m. in New York.
As listeners here already know, one o...
Vishy Tirupattur: Tumult in the Banking Sector
As the U.S. banking sector faces oncoming regulatory changes, how will the smaller banks react to these new requirements and what will the impact be on markets?
----- Transcript -----
Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the impact of potential regulatory changes on bank assets. It's Tuesday, April 18th at 11a.m in New York.
In the wake of the tumult in t...
Mike Wilson: Credit Crunch in the U.S Equity Markets
While some investors may be cheering due to softer than expected inflation data, revenues may begin to disappoint in the face of a credit crunch brought on by recent banking stress.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Monday, April 17th, at 11:30 a.m. in New York. So let's get after it.
Sustainability: The Risks and Benefits of A.I
Artificial Intelligence is clearly a powerful tool that could help a number of sustainability objectives, but are there risks attached to these potential benefits? Global Head of Sustainability Research Stephen Byrd and Global Sustainability Analyst Brenda Duverce discuss.
----- Transcript -----
Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Bryd, Morgan Stanley's Global Head of Sustainability Research.
Brenda Duverce: And I'm Brenda Duverce from the Global Sustainability Team.
Stephen Byrd: On the special episode of the podcast, we'll dis...
Jonathan Garner: Asia Equities Rally Once More
After a correction that took place in recent months, Asia and emerging markets are once again rallying. But how have these regions sustained their ongoing bull markets?
----- Transcript -----
Welcome to Thoughts on the Market. I'm Jonathan Garner, Chief Asia and Emerging Market Equity Strategist at Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, today I'll be talking about the recent correction and ongoing bull market in Asia and emerging market equities. It's Thursday, April 13th, at 10 a.m. in London.
Chetan Ahya: Global Impacts on Asia's Growth
Given the recent developments in developed markets banking sectors, can Asia’s economic growth continue to outperform?
----- Transcript -----
Welcome to Thoughts on the Market. I'm Chetan Ahya, Morgan Stanley's Chief Asia Economist. Along with my colleagues bringing you a variety of perspectives, today I'll be discussing why Asia remains better placed despite recent global financial developments. It's Wednesday, April 12, at 9 a.m in Hong Kong.
With the recent issues in the Developed Markets banking sector, investors are asking if Asia could face sim...
U.S Housing: The Future of Mortgage Markets
Banks and the Fed are winding down activity in the mortgage market amid recent funding challenges, signaling a potential new regime for the asset class. Co-Heads of Securitized Products Research Jim Egan and Jay Bacow discuss.
----- Transcript -----
Jim Egan: Welcome to Thoughts on the Market. I'm Jim Egan, Co-Head of U.S. Securitized Products Research here at Morgan Stanley.
Jay Bacow: And I'm Jay Bacow, the other Co-Head of U.S. Securitized Products Research.
Jim Egan: And on...
Diego Anzoategui: Goods, Services and the Shape of China’s Reopening
China’s growth is expected to be strong this year. However, it is being driven by services more than goods, meaning the news for other economies may not be as good as it initially appears.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Diego Anzoategui from the Global Economics Team. Along with my colleagues, bringing you a variety of perspectives, today I'll be talking about the global impact of China's reopening. It's Monday, April 10th, at 3 p.m. in New York.
At the...
Ellen Zentner: The Lagging Effects of Loan Growth
While banking conditions seem to have stabilized for now, tighter credit conditions could still hit U.S. economic growth.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Ellen Zentner, Morgan Stanley's Chief U.S. Economist. Along with my colleagues bringing you a variety of perspectives, today I'll discuss how recent developments in the banking sector could impact the U.S. economy. It's Thursday, April 6, at 10 a.m. in New York.
Events over the past several weeks have led to disruptions in the f...
Michael Zezas: What the ‘X-Date’ Means for Investors
With the deadline to raise the debt ceiling looming closer, will recent banking challenges reduce Congress's willingness to take risks with the economy?
----- Transcript -----
Welcome to the Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income research for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the debt ceiling and financial markets. It's Wednesday, April 5th at 9 a.m. in New York.
Markets have focused in recent weeks on key long t...
Seth Carpenter: China’s Impact on Global Growth
As the economic growth spread between Asia and the rest of the world widens, China’s reopening is unlikely to spur growth that spills over globally.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist. Along with my colleagues, bringing you a variety of perspectives, today I'll be talking about the outlook for global economic growth. It's Tuesday, April 4th at 10 a.m. in New York.
How is the outlook evolving after one quarter of 2023? The key...
Mike Wilson: Not All Bank Reserves Are Created Equal
Recent increases in the Fed’s balance sheet may not have the same impact on money supply, growth and equities as in previous cycles.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about the latest trends in the financial marketplace. It's Monday, April 3rd at 11:30 a.m. in New York. So let's get after it.
Over the past mon...
Andrew Sheets: Be Careful What You Wish For
Given recent signs of slowing in a previously strong economy, investors may want to look to history before wishing for weaker growth.
----- Transcript -----
Welcome to Thoughts on the Market. I'm Andrew Sheets, Chief Cross-Assets Strategist for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the Global Investment landscape and how we put those ideas together. It's Friday, March 31st at 2 p.m. in London.
Here at Morgan Stanley Research, we are cautious on global equities r...
