Morgan Stanley Says ‘Winter Is Here’ for Stocks
- Markets not yet priced for decelerating growth, Wilson says
- Goldman Sachs strategists see disappointing earnings guidance
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One after the other, stock market bears say their calls have finally been vindicated. Morgan Stanley’s Michael Wilson is the latest to claim his warnings were spot on.
The strategist, who has long been a skeptic of the rally that pushed U.S. equities to successive records, said Monday that January’s rout “fits nicely” with his so-called fire and ice narrative, according to which markets were set for a drawdown amid tighter monetary policy and decelerating growth.