May 31, 2025 12:33 AM GMT Global Macro Strategy Mid-Year Outlook The Moments of TRUTHs We think rates and currency markets have embarked on sizeable trends that will be sustained - taking the US dollar much lower and yields curves much steeper - after two years of swing trading within wide ranges. The TRUTHs may not set you free, but navigating them by trading with these trends will. Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should ...