- Mike Wilson, Morgan Stanley’s chief US equity strategist, says the recent US-China “trade truce” doesn’t change the direction of the economy and could set the market up for failure.
- Wilson argues that stocks are positioned for a repeat of last December’s steep selloff. While stocks rallied on renewed hopes for an end to the trade war, Wilson argues that the US economy is still losing strength and headed for a recession.
- He adds that the rally last week upended some of the market’s recent leaders, and that trend would also hurt equities if it lasts.
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