Morgan Stanley Says Stock Bulls Face Rude Awakening
- Fading fiscal support, lower liquidity seen weighing on stocks
- Equities are ‘as stretched as they can get,’ Wilson says
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One of Wall Street’s most bearish strategists isn’t giving in to the bullish about-turn in equities, saying investors may be in for “a rude awakening.”
Morgan Stanley’s Michael Wilson, whose outlook for a market slump in 2023 has yet to materialize, said fading fiscal support, lower liquidity and falling inflation will weigh on the US equity rally in the second half of the year.