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Stephen S. Roach, Chairman, Morgan Stanley Asia
A bubble-prone US economy has become a breeding ground for a gathering storm of systemic risks in America and in an increasingly interdependent world economy, argues Stephen Roach, Chairman, Morgan Stanley Asia. 
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August 12, 2008 |
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Pitfalls in a Post-Bubble World
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| Stephen S. Roach, Chairman, Morgan Stanley Asia |
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| A bubble-prone US economy has become a breeding ground for a gathering storm of systemic risks in America and in an increasingly interdependent world economy, argues Stephen Roach, Chairman, Morgan Stanley Asia. |
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US Equity Strategy: The Green Mile: Dollar Drives Rotation Further
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| First phase of dollar rally should cause continued rotation in market leadership, but will eventually create conditions for more bullish outlook by lowering energy/commodity prices, reducing inflation risks, and setting stage for multiple expansion. Given weakening global growth, strengthening dollar, and falling commodity prices, our trades are: US outperformance vs. EAFE; underweight global cyclicals/overweight domestic cyclicals; overweight banks vs. SPX; overweight earnings certainty. |
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