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Morgan Stanley Counters Bill Gross Over Bond Bear Market Call

  • Gross says he’s short bonds in his global unconstrained fund
  • Morgan Stanley analysts say Treasuries still offer value
Morgan Stanley digital signage is displayed on the exterior of the company's headquarters in New York, U.S., on Friday, Oct. 7, 2016. Morgan Stanley is scheduled to release earnings figures on October 19.
Photographer: Mark Kauzlarich/Bloomberg

Morgan Stanley countered Bill Gross’s call that Treasuries are in a bear market.

"Don’t worry, Treasuries continue to offer value," Morgan Stanley strategists Matthew Hornbach and Guneet Dhingra in New York wrote in a note Thursday. "This isn’t the bear market you’re looking for," according to the firm, one of the 23 primary dealers that underwrite U.S. debt securities.