Thoughts on the Market

U.S. Financials Conference: Three Key Themes to Watch

09 Jun 2025

Contributed by Lukas

Our analysts Betsy Graseck, Manan Gosalia and Ryan Kenny discuss the major discussions they expect to highlight Morgan Stanley’s upcoming U.S. Finan...

Standing by Our Outlook

06 Jun 2025

Contributed by Lukas

Morgan Stanley’s midyear outlook defied the conventional view in a number of ways. Our analysts Serena Tang and Vishy Tirupattur push back on the pu...

5 Reasons the Obesity Drug Market Remains Strong

05 Jun 2025

Contributed by Lukas

The global market for obesity drugs is expanding. Our U.S. Pharma and Biotech Analyst Terrence Flynn discusses what’s driving the next stage of glob...

Midyear U.S. Credit Outlook: Why Investors Should Be Selective

04 Jun 2025

Contributed by Lukas

Our analysts Andrew Sheets and Vishwas Patkar take stock of the U.S. credit market, noting which segments are on firm footing going into a period of s...

U.S. Shoppers Take Stock

03 Jun 2025

Contributed by Lukas

Our Thematics and U.S. Economics analysts Michelle Weaver and Arunima Sinha discuss how American consumers are planning to spend as they consider tari...

Why Equity Markets May Be Stronger Than You Think

02 Jun 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains how his outlook on earnings and valuations give him a constructive view on U.S. equities...

Why Interest Rates Matter Again

30 May 2025

Contributed by Lukas

Our Head of Corporate Credit Research explains why the legal confusion over U.S. tariffs plus the pending U.S. budget bill equals a revived focus on i...

What Now with Tariffs?

30 May 2025

Contributed by Lukas

After the federal court’s ruling against Trump’s reciprocal tariffs, and an appeals court’s temporary stay of that ruling, our analysts Michael ...

How to Decode Tariff Signals

28 May 2025

Contributed by Lukas

Our Global Head of Fixed Income Research & Public Policy Strategy, Michael Zezas, shares the answers to clients’ top U.S. policy questions from ...

Luxury Sector Tightens Its Belt

27 May 2025

Contributed by Lukas

Live from the Morgan Stanley Luxury Conference in Paris, our analysts Arunima Sinha and Eduoard Aubin discuss the economic and consumer trends shaping...

Midyear U.S. Outlook: Equity Markets a Step Ahead?

23 May 2025

Contributed by Lukas

Global trade tensions have eased after a steadying in U.S. policy shifts, leading our CIO and Chief U.S. Equity Strategist Mike Wilson to make a more ...

Midyear Global Outlook, Pt 2: Why the U.S. Still Leads Global Markets

22 May 2025

Contributed by Lukas

Our analysts Serena Tang and Seth Carpenter discuss Morgan Stanley’s out-of-consensus view on U.S. exceptionalism, and how investors should position...

Midyear Global Outlook, Pt 1: Skewing to the Downside

21 May 2025

Contributed by Lukas

Our analysts Seth Carpenter and Serena Tang discuss why they believe the global economy is set to slow meaningfully in the second half of 2025.Read mo...

Japan Summit: Consumer Resilience and Trade Uncertainty

20 May 2025

Contributed by Lukas

Live from the Morgan Stanley Japan Summit, our analysts Chiwoong Lee and Sho Nakazawa discuss their outlook for the Japanese economy and stock market ...

Market Risks Persist After U.S.-China Trade Detente

19 May 2025

Contributed by Lukas

Markets have reacted positively to the U.S.-China détente in tariffs. Our Chief Fixed Income Strategist, Vishy Tirupattur, digs into the rallies to b...

Lessons Amid the Market Rollercoaster

16 May 2025

Contributed by Lukas

As market uncertainty continues around the Trump administration’s trade policy, our Head of Corporate Credit Research Andrew Sheets reflects on the ...

The Rise Of The Humanoid Economy

15 May 2025

Contributed by Lukas

Our analysts Adam Jonas and Sheng Zhong discuss the rapidly evolving humanoid technologies and investment opportunities that could lead to a $5 trilli...

What the Tax Debate Could Mean for Markets

14 May 2025

Contributed by Lukas

Our strategists Michael Zezas and Ariana Salvatore provide context around U.S. House Republicans’ proposed tax bill and how investors should view it...

Can Private Credit Weather Macro Risks?

13 May 2025

Contributed by Lukas

Our analysts Vishy Tirupattur and Joyce Jiang discuss the health of private credit as default pressures are building for borrowers amid weaker growth,...

U.S.-China Trade Truce: What’s Next?

12 May 2025

Contributed by Lukas

Equity markets saw big rallies after trade tensions eased over the weekend. Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why he’s o...

The Eye of a Market Storm

09 May 2025

Contributed by Lukas

The initial shock of the U.S. administration’s tariff announcements is over, but Andrew Sheets, our Head of Corporate Credit Research, suggests the ...

Why is the Taiwanese Dollar Suddenly Surging?

08 May 2025

Contributed by Lukas

Investors were caught off guard last week when the Taiwanese dollar surged to a multi-year high. Our strategists Michael Zezas and James Lord look at ...

Are Investors Searching for New ‘Safe Havens’?

07 May 2025

Contributed by Lukas

The traditional correlations between some asset classes went haywire in April. Our analysts Serena Tang and Vishy Tirupattur discuss whether, in this ...

U.S. Economy: Solid Footing For Now, Uncertainty Ahead

06 May 2025

Contributed by Lukas

With the May FOMC meeting in progress, our analysts Matt Hornbach and Michael Gapen offer perspective on U.S. economic projections and whether markets...

Munis: Tax-Free Income in Times of Stress

05 May 2025

Contributed by Lukas

Morgan Stanley Research analyst Mark Schmidt and Investment Management’s Craig Brandon discuss the heightened uncertainty in the U.S. municipal bond...

Why the UK May Be Poised for a Surprising Rebound

02 May 2025

Contributed by Lukas

Despite news that the UK economy is set to slow due to uncertainty around US trade policy, our analysts Andrew Sheets and Bruna Skarica explain why th...

Can South Korea Afford To Grow Old?

02 May 2025

Contributed by Lukas

Our Chief Korea and Taiwan Economist Kathleen Oh discusses Korea's recent pension reform and its implications for the country's rapidly aging populati...

A Possible Roadmap for U.S. Tariff Policy

30 Apr 2025

Contributed by Lukas

Our analysts Michael Zezas and Rajeev Sibal unpack the significance of a little-discussed clause in the Trump administration’s tariff policy, which ...

Is the Oil Market Flashing a Potential Recession Warning?

29 Apr 2025

Contributed by Lukas

Our Global Commodities Strategist Martijn Rats discusses the ongoing volatility in the oil market and potential macroeconomic scenarios for the rest o...

What Should Investors Expect from Earnings Season?

28 Apr 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses how market volatility over the last month will affect equity markets as earnings season...

Tariffs Could Drag on Growth in Asia as Well as U.S.

25 Apr 2025

Contributed by Lukas

Our U.S. and Asia economists Michael Gapen and Chetan Ahya discuss how tariff uncertainty is shaping their expectations for these economies over the s...

Will Housing Prices Keep Climbing?

24 Apr 2025

Contributed by Lukas

Our Co-Heads of Securitized Products Research Jay Bacow and James Egan explain how mortgage rates, tariffs and stock market volatility are affecting t...

Is the Beverage Industry Drying Up?

23 Apr 2025

Contributed by Lukas

Morgan Stanley’s Head of European Consumer Staples, Sarah Simon, discusses why aging populations, wellness trends and Gen Z’s moderation are putti...

How Investors are Playing Defense

22 Apr 2025

Contributed by Lukas

Our Chief Cross-Asset Strategist Serena Tang discusses the market’s shifting perception of risk and what’s behind some unusual patterns in fund fl...

Recession Fears Are a Wild Card for Markets

21 Apr 2025

Contributed by Lukas

Can the U.S. equity market break out of its expected range? Our CIO and Chief U.S. Equity Strategist Mike Wilson looks at whether the Trump administra...

How Much More Could Your Smartphone Cost?

17 Apr 2025

Contributed by Lukas

Our analysts Michael Zezas and Erik Woodring discuss the ways tariffs are rewiring the tech hardware industry and how companies can mitigate the impac...

Tariff Uncertainty Creates Opportunity in Credit

16 Apr 2025

Contributed by Lukas

The ever-evolving nature of the U.S. administration’s trade policy has triggered market uncertainty, impacting corporate and consumer confidence. Bu...

Gold Rush Picks Up Speed

15 Apr 2025

Contributed by Lukas

As gold prices reach new all-time highs, Metals & Mining Commodity Strategist Amy Gower discusses whether the rally is sustainable.Read more ...

Where Is the Bottom of the Market?

14 Apr 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson probes whether market confidence can return soon as long as tariff policy remains in a state...

Is the Market Rebound a Mirage?

11 Apr 2025

Contributed by Lukas

Our Head of Corporate Credit Research analyzes the market response to President Trump’s tariff reversal and explains why rallies do not always indic...

Why Tariffs Spurred a Dash for Cash

10 Apr 2025

Contributed by Lukas

Our analysts Vishy Tirupattur and Martin Tobias explain how the announcement of new tariffs and the subsequent pause in their implementation affected ...

Lingering Uncertainties After Tariff Reprieve

10 Apr 2025

Contributed by Lukas

Earlier today, President Trump announced a pause on reciprocal tariffs for 90 days. Our Global Head of Fixed Income Research and Public Policy Strateg...

Three Things That Could Ease Tariff Jitters

08 Apr 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist explains why the new tariffs added momentum to a correction that was already underway, and what could ease th...

Tariff Roundtable: Global Economy on the Brink of Recession?

07 Apr 2025

Contributed by Lukas

As market turmoil continues, our global economists give their view on the ramifications of the Trump administration’s tariffs, and how central banks...

Tariff Fallout: Where Do Markets Go From Here?

04 Apr 2025

Contributed by Lukas

As markets continue reacting to the Trump administration’s tariffs, Michael Zezas, our Global Head of Fixed Income Research and Public Policy Strate...

How Companies Can Navigate New Tariffs

03 Apr 2025

Contributed by Lukas

Our Thematics and Public Policy analysts Michelle Weaver and Ariana Salvatore discuss the top five strategies for companies to mitigate the effects of...

Faceoff: U.S. vs. European Equities

02 Apr 2025

Contributed by Lukas

Our analysts Paul Walsh, Mike Wilson and Marina Zavolock debate the relative merits of U.S. and European stocks in this very dynamic market moment.Rea...

What’s Weighing on U.S. Consumer Confidence?

02 Apr 2025

Contributed by Lukas

Our analysts Arunima Sinha, Heather Berger and James Egan discuss the resilience of U.S. consumer spending, credit use and homeownership in light...

Are Any Stocks Immune to Tariffs?

31 Mar 2025

Contributed by Lukas

Policy questions and growth risks are likely to persist in the aftermath of the Trump administration’s upcoming tariffs. Our CIO and Chief U.S. Equi...

New Worries in the Credit Markets

28 Mar 2025

Contributed by Lukas

As credit resilience weakens with a worsening fundamental backdrop, our Head of Corporate Credit Research Andrew Sheets suggests investors reconsider ...

New Tariffs, New Patterns of Trade

27 Mar 2025

Contributed by Lukas

Our global economists Seth Carpenter and Rajeev Sibal discuss how global trade will need to realign in response to escalating U.S. tariff policy.Read ...

Is the Future of Food Fermented?

26 Mar 2025

Contributed by Lukas

Our European Sustainability Strategists Rachel Fletcher and Arushi Agarwal discuss how fermentation presents a new opportunity to tap into the alterna...

European Banks Spark Rising Investor Interest

25 Mar 2025

Contributed by Lukas

Our European Heads of Diversified Financials and Banks Research Bruce Hamilton and Alvaro Serrano discuss the biggest themes and debates from the rece...

Key Indicators of How Far Markets Could Rebound

24 Mar 2025

Contributed by Lukas

Our CIO and Chief U.S. equity strategist Mike Wilson discusses investors’ outlook following last week’s Fed meeting, and lists the key signals to ...

Investors Look Beyond U.S. for Opportunities

21 Mar 2025

Contributed by Lukas

Amid lower growth and inflation concerns in the US, investors have begun scouring international markets for other opportunities. Our analysts Andrew S...

Risks and Uncertainty in the Fed’s New Outlook

20 Mar 2025

Contributed by Lukas

Our Global Head of Macro Strategy Matthew Hornbach and Chief U.S. Economist Michael Gapen discuss the outcome of the recent FOMC meeting, and the outl...

Making a Bet on the Future of Betting

19 Mar 2025

Contributed by Lukas

Our analysts Michael Cyprys and Stephen Grambling discuss prediction markets’ rising popularity and how they could disrupt the U.S. sports betting i...

What Could Weaken Strong Credit

18 Mar 2025

Contributed by Lukas

Our Chief Fixed Income Strategist Vishy Tirupattur explains why credit markets have held firm amid macro volatility, and the scenarios which could hur...

Is the Correction Over Yet?

17 Mar 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains the stock market tumble and whether investors can hope for a rally.----- Transcript ----...

Credit Markets Remain Resilient, For Now

14 Mar 2025

Contributed by Lukas

As equity markets gyrate in response to unpredictable U.S. policy, credit has taken longer to respond. Our Head of Corporate Credit Research, Andrew S...

India’s Resurgence Should Weather Trade Tensions

13 Mar 2025

Contributed by Lukas

Our Chief Asia Economist Chetan Ahya discusses the early indications of India’s economic recovery and why the country looks best-positioned in the r...

The Other Policy Choices That Matter

12 Mar 2025

Contributed by Lukas

While tariffs continue to dominate headlines, our Global Head of Fixed Income Research and Public Policy Strategy Michael Zezas suggests investors sho...

The AI Agents Are Here

11 Mar 2025

Contributed by Lukas

Our analysts Adam Jonas and Michelle Weaver share a glimpse into the future from Morgan Stanley’s Annual Tech, Media, and Telecom (TMT) Conference, ...

Why Uncertainty Won't Slow AI Hardware Investment

10 Mar 2025

Contributed by Lukas

Our Head of U.S. IT Hardware Erik Woodring gives his key takeaways from Morgan Stanley’s Technology, Media and Telecom (TMT) conference, including w...

Rewiring Global Trade

07 Mar 2025

Contributed by Lukas

While policy noise continues to dominate the headlines, our Global Head of Fixed Income Research and Public Policy Strategy Michael Zezas points out a...

Funding the Next Phase of AI Development

06 Mar 2025

Contributed by Lukas

Recorded at our 2025 Technology, Media and Telecom (TMT) Conference, TMT Credit Research Analyst Lindsay Tyler joins Head of Investment...

Is There Too Much Focus on Fed’s Moves?

06 Mar 2025

Contributed by Lukas

While central bank policy will always matter for markets, our Head of Corporate Credit Research Andrew Sheets explains why investors should not be wor...

What Will Tariffs Do to the U.S. Dollar?

04 Mar 2025

Contributed by Lukas

Our U.S. Public Policy and Currency analysts, Ariana Salvatore and Andrew Watrous, discuss why the dollar fell at the beginning of the ...

Will GenAI Turn a Profit in 2025?

03 Mar 2025

Contributed by Lukas

Our Semiconductors and Software analysts Joe Moore and Keith Weiss dive into the biggest market debate around AI and why it’s likely to shape conver...

Searching for Signals in U.S. Policy Noise

28 Feb 2025

Contributed by Lukas

Our Global Head of Fixed Income Research and Public Policy Strategy explains why conflicting news on tariffs and government spending may point to a ca...

Shaky U.S. Consumer Confidence May Be a Leading Signal

27 Feb 2025

Contributed by Lukas

Two recent surveys indicate that U.S. consumer confidence has shown a notable decline amid talks about inflation and potential tariff. Our Head of Cor...

The Impact of Shifting Immigration Policy

26 Feb 2025

Contributed by Lukas

Our Chief U.S. Economist Michael Gapen discusses the possible economic implications of restrictive immigration policies in the U.S., highlighting thei...

Cruises Set Sail for Private Islands

25 Feb 2025

Contributed by Lukas

A shift to private destinations for cruise lines could affect both operators and guests by 2030. Our Europe Leisure & Travel analyst Jamie Rollo e...

What’s Behind the Recent Stock Tumble?

24 Feb 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains the challenges to growth for U.S. stocks and why some investors are looking to China and...

How a Potential Ukraine Peace Deal Could Impact Airlines

21 Feb 2025

Contributed by Lukas

Our Hong Kong/China Transportation & Infrastructure Analyst Qianlei Fan explores how a potential peace deal in Ukraine could reshape the global ai...

The Downside Risks of Reciprocal Tariffs

20 Feb 2025

Contributed by Lukas

Our Global Chief Economist Seth Carpenter explains the potential domino effect that President Trump’s reciprocal tariffs could have on the U.S. and ...

A Rollercoaster Housing Market

19 Feb 2025

Contributed by Lukas

Our co-heads of Securitized Products Research, James Egan and Jay Bacow, explain how the increase in home prices, a tight market supply and steady mor...

Finding Opportunity in an Uncertain U.S. Equity Market

18 Feb 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategy Mike Wilson suggests that stock, factor and sector selection remain key to portfolio performance.----- Transcri...

Trump 2.0 and the Potential Economic Impact of Immigration Policy

14 Feb 2025

Contributed by Lukas

Our Global Head of Fixed Income and Public Policy Research, Michael Zezas, joins our Chief U.S. Economist, Michael Gapen, to discuss the possible outc...

How Do Tariffs Affect Currencies?

13 Feb 2025

Contributed by Lukas

Our Head of Foreign Exchange & Emerging Markets Strategy James Lord discusses how much tariff-driven volatility investors can expect in ...

The Credit Upside of Market Uncertainty

12 Feb 2025

Contributed by Lukas

The down-to-the-deadline nature of Trump’s trade policy has created market uncertainty. Our Head of Corporate Credit Research Andrew Sheets points o...

The Rising Risk of Trade Tensions in Asia

11 Feb 2025

Contributed by Lukas

Our Chief Asia Economist Chetan Ahya discusses the potential impact of reciprocal U.S. tariffs on Asian economies, highlighting the key markets at ris...

Who Might Benefit From Trump’s Tax Policy Proposals?

10 Feb 2025

Contributed by Lukas

Global Head of Fixed Income and Public Policy Research Michael Zezas and Head of Global Evaluation, Accounting and Tax Todd Castagno discuss the marke...

The Disruption in the AI Market

07 Feb 2025

Contributed by Lukas

Our Chief Fixed Income Strategist Vishy Tirupattur thinks that efficiency gains from Chinese AI startup DeepSeek may drive incremental demand for AI.-...

Chinese Airlines Breaking Through Turbulence

06 Feb 2025

Contributed by Lukas

Our Hong Kong/China Transportation & Infrastructure Analyst Qianlei Fan explains why a resurgence in air travel is leading China’s emergence fro...

Trump 2.0 and the Latest on Tariffs

05 Feb 2025

Contributed by Lukas

Our Global Head of Fixed Income Research & Public Policy Strategy Michael Zezas discusses the potential economic outcomes of a shifting North Amer...

Trump 2.0 and the Future of Energy

04 Feb 2025

Contributed by Lukas

Our analysts Ariana Salvatore, Stephen Byrd and Devin McDermott discuss President Trump’s four executive orders around energy policy and how they co...

Tariffs and Tech Challenge Stocks

03 Feb 2025

Contributed by Lukas

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why U.S. stocks took a hit that is likely to sustain through the first half of 2025.----...

Big Debates: Who Will Be the Trade Winners Under Trump?

31 Jan 2025

Contributed by Lukas

Morgan Stanley Research analysts Michelle Weaver, Chris Snyder and Nik Lippmann discuss U.S.-Mexico trade and the future of reshoring and near-shoring...

Managing Fiscal Policy Uncertainty Under Trump 2.0

30 Jan 2025

Contributed by Lukas

Our Global Head of Fixed Income and Public Policy Research, Michael Zezas, and Global Head of Macro Strategy, Matt Hornbach, discuss how the Trump adm...

A Mixed Bag for Retail and Consumer Sectors

29 Jan 2025

Contributed by Lukas

Our Head of Corporate Credit Research and Head of Retail Consumer Credit discuss what choppy demand and tariff risk could mean for sectors that depend...

Will Trump’s Tariffs Reshape Asian Economies?

28 Jan 2025

Contributed by Lukas

Our Global Head of Fixed Income and Public Policy Research Michael Zezas and Chief Asia Economist Chetan Ahya discuss the potential impact of U.S. tar...

Europe’s Defense Dilemma

27 Jan 2025

Contributed by Lukas

Morgan Stanley Research looks at how the European defense industry might respond to military spending pressure from the Trump administration.----- Tra...

Have Markets Hit Peak Optimism?

24 Jan 2025

Contributed by Lukas

Our Head of Corporate Credit Research Andrew Sheets argues that while investor hopes are running high, corporate confidence isn’t.----- Transcript -...

Big Debates: How Will M&A and IPOs Drive Markets in 2025?

23 Jan 2025

Contributed by Lukas

Morgan Stanley Research analysts Michelle Weaver, Michael Cyprys and Ryan Kenny discuss the resurgence in capital markets activity and how sponsors mi...

Potential Economic Consequences of Trump’s Executive Orders

22 Jan 2025

Contributed by Lukas

On his first day in office, President Trump issued a series of executive orders, signaling his intent to deliver on campaign promises. Our Global Head...

Asia Outlook 2025: Three Critical Themes

21 Jan 2025

Contributed by Lukas

Our Chief Asia Economist Chetan Ahya discusses how tariffs, the power of the U.S. dollar, and the strength of domestic demand will determine Asia’s ...

The Surge in Bond Yields Likely Doesn’t Present Risk – Yet

17 Jan 2025

Contributed by Lukas

Government bond yields in the U.S. and Europe have risen sharply. Our Head of Corporate Credit Research Andrew Sheets explains why this surprising tre...

Should Drop in Fed Reserves Concern Investors?

16 Jan 2025

Contributed by Lukas

The Federal Reserve’s shrinking balance sheet could have far-reaching implications for the banking sector, money markets and monetary policy. Global...

Four Key Investment Themes for 2025

15 Jan 2025

Contributed by Lukas

Our Global Head of Fixed Income & Public Policy Research Michael Zezas discusses how Morgan Stanley’s key themes – deglobalization, longevity,...