Here's How to Make Money From Australia's Downturn
- U.S. bank sees economic slowdown Down Under with limp consumer
- Buy defensives from Sonic Healthcare to Spark: Morgan Stanley
Moody's Cut Australia's 'Big Four' Banks
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Morgan Stanley, the most bearish Wall Street firm on Australia’s currency, sees the economy struggling and the stock market falling.
It’s not all bad news, though, with strategists at the top-ranked brokerage saying there are a number of winners that can profit amid the gloom. The key is avoiding companies that are most at risk as sagging earnings momentum weighs down growth and consumers rein in spending as incomes decline.