Morgan Stanley’s Michael Wilson Says US Stocks Aren’t Pricing Weak Data

A report from yesterday suggests that Morgan Stanley feels this recent rally is essentially a bull trap and that the market isn't pricing in weak macro data most notably being the earnings recession.

Their reports also delve into household savings withering away to a point where they're lower now than before the pandemic.

What's also interesting is that they feel the pain will come in this quarter: Q1 2023, and that China's reopening isn't enough counteract the US business cycle.

Source: https://www.bnnbloomberg.ca/morgan-stanley-s-wilson-says-us-stocks-aren-t-pricing-weak-data-1.1873651