WARNING! Morgan Stanley: Investor Fear of Missing out Is ‘Not a Good Sign’… Stephen Roach: Wall Street Too Optimistic as Economies Start Reopening

Investor Fear of Missing out Is ‘Not a Good Sign’, Warns Morgan Stanley

Morgan Stanley Investment Management’s Andrew Harmstone advises investors to keep their portoflio risk level low and maintain a defensive position while looking for opportunities to add value in an environment of “extremely high” volatility.

  • The fear of missing out has played a role in recent market movements but that’s “not a good sign,” according to Andrew Harmstone, head of global balanced risk control strategy at Morgan Stanley Investment Management.
  • Harmstone said investors should keep their portfolio risk level low and maintain a defensive position while looking for opportunities to add value in an environment of “extremely high” volatility.
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Wall Street Too Optimistic as Economies Start Reopening, Stephen Roach Warns

One of the world’s leading authorities on Asia is worried Wall Street is miscalculating China’s efforts to reopen its economy.

 

World Faces Rare ‘Inflationary Depression,’ Says Keynes Scholar

The world economy could face a unique “inflationary depression” as it emerges from lockdowns, with government spending propping up demand even as unemployment soars, according to economic historian Robert Skidelsky.

Consumer Confidence in Housing Falls to Lowest Level Since Subprime Crash

The economic free fall from Covid-19 is taking its toll on what had been strong housing demand just a few months ago.

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EU Forecasts ‘Recession of Historic Proportions’ This Year

The group of 19 nations using the euro as their currency will see a record decline of 7.75% this year, and grow by 6.25% in 2021, the European Commission said in its Spring economic forecast.