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Morgan Stanley cuts global equities, boosts cash and US Treasuries
Morgan Stanley has adopted a more defensive stance, downgrading global equities and upgrading cash and US government bonds amid rising oil supply risks from the Middle East conflict, Reuters reported. The bank lowered global equities to equal weight from overweight and lifted cash and Treasuries to overweight from equal weight, citing “asymmetric outcomes” for risk assets in an environment of surging crude prices.
Morgan Stanley has adopted a more defensive stance, downgrading global equities and upgrading cash and US government bonds amid rising oil supply risks from the Middle East conflict, Reuters reported. The bank lowered global equities to equal weight from overweight and lifted cash and Treasuries to overweight from equal weight, citing “asymmetric outcomes” for risk assets in an environment of surging crude prices.