Bond Tumult to Hit Last Stock Market Pillar, Morgan Stanley Says
- Companies with ‘longest duration’ at risk in bond move: Wilson
- Reversal would mark downfall for rally’s biggest winners
This article is for subscribers only.
The death knell for the "last bastions of safety" in equities has finally arrived for analysts at Morgan Stanley.
The violent move up in U.S. Treasury yields has put investors on the threshold of casting out growth stocks -- the last act of a rolling bear market Morgan Stanley sees playing out. According to the strategists, strength in the broader index has been masking bear market-like pain for different groups of shares.