Morgan Stanley’s Slimmon Sees Stocks Soaring Beyond Record Highs
- Cash on sidelines shows investors in ‘fear’ part of the cycle
- FOMO, not a drop in yields, will spur equity inflows: Slimmon
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Investors are clinging to their cash even as stocks hit all-time highs, a sign that there’s plenty of room for the market to extend those gains, according to Morgan Stanley’s Andrew Slimmon.
Low expectations for equities and the preference for a 5% to 6% yield from Treasury bills suggests that markets are still in the “fear” part of the current cycle, the senior portfolio manager at the bank’s investment management arm said Tuesday in an interview with Bloomberg Television.