Morgan Stanley’s Secker Says UK Assets Are World’s Cheapest
- UK equities lag major European, developed-market stocks in ‘23
- UK small caps seen attractive if inflation starts subsiding
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Sentiment around the UK economy has been so poor that the nation’s stocks and credit are now the cheapest globally, which could create investment opportunities if inflation begins to slow down, according to Morgan Stanley strategists.
“Investor pessimism towards the UK is currently high; however, sentiment could shift if inflation starts to subside,” strategists led by Graham Secker said in an emailed note.