Morgan Stanley Cross asset views after Brexit

MS_cross_asset_views_Jun2016

Source: Morgan Stanley

Interestingly, one week after the event, systemic risk doesn’t seem to be an issue…

MS_cross_asset_views_Jun2016_Systemic_Risk

Source: Morgan Stanley

Views per asset classes:

  • Equities: stay defensive (global earnings have been falling, and valuation are relatively fair)
  • Currencies: USD bull market is not over…
  • Rates: lower for longer
  • Credit: best option for carry

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