Morgan Stanley IM: From the Big Bad Wolf to Goldilocks – Is it Different this Time?
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.08.11.2023 | 06:45 Uhr
- This is the time of the year when investors start discussing a year-end rally.
- And for good reason! November and December have historically shown strong seasonals.
- I do find it amazing how quickly the market narrative has shifted from a “Big Bad Wolf” to a “Goldilocks” scenario, but here we are. It appears that a near 6% rally in U.S. equities last week will do that.
- But, with tight central bank policies, higher bond yields, inflation, recession and geopolitical risks, will the 2023 year-end be different this time?
- Hard to say, but as with almost anything else, context matters. We discuss in this audiocast.
See below for important disclosures.