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Rally will fizzle out in a week or two, Morgan Stanley strategist Wilson says

Por: MarketWatch Politics November 06, 2023

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You’d probably not expect the bearish strategist Mike Wilson of Morgan Stanley to be impressed, and guess what, he wasn’t. “We think last week’s rally in stocks was mainly a function of the fall in back-end Treasury yields,” says Wilson. And that drop, he said, was driven more by lower-than-expected coupon issuance and weaker economic data than anything Jerome Powell said. Continuing claims are now up more than 35% from the cycle... + full article



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