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Goldman and Morgan Stanley Say Stocks Don’t Fully Reflect Risks
Bloomberg
By Farah ElbahrawyEven after this year’s rapid selloff, equities are still not fully reflecting the vast risks facing corporate earnings and weaker consumer demand, according to strategists at Morgan Stanley and Goldman Sachs Group Inc.
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“The Equity Risk Premium does not reflect the risks to growth, which are increasing due to margin pressure and weaker demand as the consumer decides to hunker down,” Morgan Stanley strategists led by Michael Wilson wrote in a note on Monday.
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