Morgan Stanley Wealth Exits Junk Bonds, Warns on Recession Risk
Why MS Wealth Management Is Raising Recession Warnings
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It’s too late in this market cycle to bet on high-yield bonds, according to Morgan Stanley Wealth Management.
So, the $2 trillion money management arm is completely slashing junk bond allocation. True, tax cuts are expected to inject fresh momentum into high-flying stocks, but the boost may be short-lived and mask balance-sheet weaknesses, Mike Wilson, chief investment officer, wrote in a note distributed Wednesday.