The amount of debt that China has taken in the last 5-7 years is unprecedented, no developing country in history has taken on as much debt as China has taken on on a marginal basis.

Morgan Stanley

Categorized in : Business

The market is close to balanced ... when we consider the large amount of supply offline in Canada and elsewhere, which could last for months.

Changes in Saudi Arabia oil leadership only underscore the shift in strategy to one focused on market share over price.

A macro unwind (of its positions) could cause severe selling given positioning and the nature of the players in this rally.

If indeed the environment continued as is, we would be much more... by Morgan Stanley

If indeed the environment continued as is, we would be much more aggressive on the cost front.

The securities at issue were marketed and sold to sophisticated institutional investors and their performance has been consistent with the sector as a whole, it is also worth noting that the alleged victim in this case elected not to pursue its own lawsuit against the firm.

Weaker growth forecasts and rising political risk lead us to close our positive tactical stance and lower exposure in global equities, and to moderate our EU credit weight after the sharp ECB driven rally.

Negative Interest Rate Policy (NIRP) seems to be all the rage in central bank circles these days, there are concerns amongst investors that the negative deposit rate will undermine the effectiveness of the ECB’s quantitative easing.

China made up ... 70 percent of global gasoline growth (in 2015). by Morgan Stanley

China made up ... 70 percent of global gasoline growth (in 2015).

A suspension of Schengen would undermine the functioning of the single market, hurting cross-border trade, transport and tourism.

Despite the myriad announcements of capex cuts, production has yet to respond enough to rebalance the market.

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There is an FX problem, and it may get worse, when we assess the over 30 percent decline in oil since early November, much of it is attributable to the appreciation in the trade-weighted USD.

While policymakers are still trying to maintain the trade-weighted (yuan) exchange rate in a stable range, we now anticipate that they will transition towards targeting a depreciation in the NEER (nominal effective exchange rate) about two quarters earlier than initially expected, this move will help policymakers to still cut interest rates to manage deflationary pressures, but will imply further depreciation of the yuan (against the dollar).

European return on leverage exposure is roughly half that of U.S. firms. Pruning underperforming units, intense cost-cutting and revitalising high return-on-equity (RoE) area will be key.

Yield differentials and a weaker euro are likely to keep the reve... by Morgan Stanley

Yield differentials and a weaker euro are likely to keep the reverse Yankee theme alive for longer.

mergers-acquisitions

The evidence made it crystal clear that our employees acted in go... by Morgan Stanley

The evidence made it crystal clear that our employees acted in good faith at all times.

We would expect radical uncertainty about the future of the trading relationship with Europe, and enhanced domestic political risks.

A 5 percent cost trim could boost 2017 earnings per share by 11 percent and by 8 percent over 2017-21.

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If oil prices follow the path suggested by the forward curve ... this downturn would be more severe than that in 1986.

Were Nigeria to be removed from the index as a result of the dry-up in liquidity as forewarned by the index provider, upside risks to our naira forecast of 200-205 (per dollar) over the next 12 months could crystallise immediately, especially if one considers that its (annual) current account deficit could be up to ... $10 billion.

The euro is behaving in an inverse manner to equity markets, but if investor sentiment turns even more negative and you get an outright outflow from Europe, then obviously you don’t get that supportive factor and that could leave the euro vulnerable.

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