Morgan Stanley: “We Struggle To Remember When Bearish Sentiment Was As Widespread As Today”
by Tyler Durden
ZeroHedge.com
02/07/2016
“… the growing perception that central banks are moving away from QE-style programmes to negative interest rates is less supportive for equities, in our opinion. With little evidence so far that negative rates boost aggregate economic activity, the risk is that this policy tool increasingly resembles a more blatant form of ‘beggar thy neighbour’ currency devaluation. A shift towards a more nationalistic and perhaps less coordinated global policy response could signal a quickening in the pace of fiat currency debasement and augurs badly for risk appetite, in our view.”
The Rest…HERE
