PremiumBy Andrew Sheets, Chief Cross-Asset Strategist for Morgan StanleyThis is a very 'macro' year. The AI buildout and the Strait of Hormuz dominate global newsflow, pull at nearly every asset class, and help explain unusually high stock-bond correlations.
Morgan Stanley: There's More To This Market Than Just AI And The Strait Of Hormuz
It is both a market of one and a market of many: macro forces are moving everything together, while dispersion beneath the surface is creating plenty of idiosyncratic opportunity.
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