Morgan Stanley IM: The BEAT for March – Top Ideas and Three Changes to Our Asset Allocations
Jim Caron, CIO of the Portfolio Solutions Group, shares his macro thematic views on key market drivers.06.03.2024 | 07:02 Uhr
- Fiscal policy might be more important than monetary policy.
- Inflation is not cooperating, making the Fed uncomfortable and putting bonds at risk.
- Equities are supported by a tight labor market, where consumers can still spend and help margins stay afloat.
- Capital is seeking higher real rates, such that real rate differentials in cash flows will play a larger role in relative valuations for global portfolios.