Wall Street Strategists Flip on Credit, Eyeing Value in Sell-Off
- Morgan Stanley, BofA and JPMorgan recommend adding credit risk
- Revised outlooks follow selloff and more attractive valuations
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What a difference a few weeks make in U.S. credit markets.
Strategists at Morgan Stanley, Bank of America Corp. and JPMorgan Chase & Co. have all in the past days backpedaled on more bearish positions and are now suggesting clients add a touch of credit risk to their portfolios -- in the short-term at least.