Morgan Stanley Robot Learns by Reading Unreadable Muni Documents
- Morgan Stanley runs official statements through a new program
- Too few words show risks of a default for some sectors
Source: Getty Images
This article is for subscribers only.
They’re longer than classics like Henry David Thoreau’s “Walden” and modern hits like J.K. Rowling’s “Harry Potter and the Prisoner of Azkaban” but nowhere nearly as engaging.
Yet each week, American state and local governments crank out the doorstops by the dozens, creating a dismal stack of soporific homework for money managers studying whether or not to buy their bonds.