Morgan Stanley's 2018 overview
A pick-up in investment growth, a gradual rise in core inflation, steady removal of monetary accommodation, contained financial stability risks in the US & a moderate slowdown in China are our base case assumptions for how the macro cycle will unfold in '18.
Our strategists see that there will be an opportunity to reduce risk later in Q1. With regards to positioning, they prefer DM in equities, EM in fixed income and USTs within DM bonds. They remain cautious on US HY, given rich valuations and cycle risks.
18 Dec 2017 - 14:02- EquitiesEconomic Commentary- Source: Morgan Stanley
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