Morgan Stanley just released a fantastic 52 page deck on the state...
Boring_Business@BoringBiz_
36 views
Jun 09, 2025
~1 min read
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Morgan Stanley just released a fantastic 52 page deck on the state of markets and their asset allocation framework for June 2025
Some charts that caught my eye
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1/ Indicators have recently diverged between actual economic activity and sentiment
Some charts that caught my eye
🧵
1/ Indicators have recently diverged between actual economic activity and sentiment
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2/ Tariffs currently trending towards de-escalation...
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3/ ...leading to more risk-on behavior in markets
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4/ Public sector employment has exploded since 2022 and the private sector has not kept up
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5/ Global bond yields are currently on the rise
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6/ Muni over treasury yield ratios have moved higher since the end of last year
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7/ European HY currently offering the highest yield across the bond market on a currency hedged basis
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8/ Reserve bank of India recently shifted towards easing of financial conditions, which has historically been a positive for their stock market
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9/ Floating rate loans have a negative 10yr correlation to US treasuries
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10/ The real estate market has started to stabilize
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11/ Asset allocation and positioning framework, according to Morgan Stanley
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12/ Fixed income positioning framework, according to Morgan Stanley
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13/ Equities positioning framework, according to Morgan Stanley
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14/ Bond yields across developed and emerging markets
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15/ Central bank policy rates, current vs 1m ago and 12m ago
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16/ Treasury yields and performance
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17/ Spreads across fixed income instruments
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18/ Corporate bond market performance
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19/ Default rates across HY corporate and loans
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20/ Muni bond market update
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21/ EM bond market update
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22/ Fixed income asset class returns
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23/ Current NTM P/E vs 10yr high/low and average in equities
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24/ Current NTM P/E vs 10yr high/low and average across S&P sectors
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25/ Corporate earnings growth across indices and S&P 500 sectors
