September 28, 2026 10:43 PM GMT Global Macro Commentary | North America | M | Aryaman Singh Strategist | | | --- | --- | --- | | | | Update | | September 28, 2026 10:43 PM GMT | | | | Global Macro Commentary North America | Morgan Stanley & Co. LLC | | | September 28: Bond Selloff | Aryaman@morganstanley.com Lingdi Xu | +1 212 761-1993 | | Trend Continues | Economist Lingdi.Xu@morganstanley.com | +1 212 761-2957 | | | Sofia Palacios | | | | Strategist Sofia.Palacios@morganstanley.com | +1 212 761-0428 | | B ...

Accessible version 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 The Flow Show Midterms, Bidterms, Skidterms Scores on the Doors: oil 58.5%, US stocks 13.4%, global stocks 10.6%, US$ 3.9%, cash 2.8%, HY bonds -0.5%, IG -3.2%, govt bonds -4.4%, gold -4.8%, bitcoin -6.7% YTD. Zeitgeist: "Under President Trump, the United States has made its choice. We choose the unapologetic pursuit of national power, to take back control of our critical supply chains, to reindustrialize our economy, to rebuild our defense, to fight for domin ...

October 17, 2026 12:53 AM GMT US Rates Strategy | North America Risk Cracks Revive Treasury Haven Demand For all the hand-wringing about US Treasury debt levels - which are on track to hit the statutory limit of $41.1tr by March 2027 - it was acute investor misgivings about AI corporate debt sustainability that provided a resounding answer to whether US Treasuries still perform as a risk-off hedge. Key Takeaways M Idea Morgan Stanley & Co. LLC Martin W Tobias, CFA Strategist Martin.Tobias@morganstanley.com ...

Accessible version The Flow Show Sell Signal Ends Scores on the Doors: oil 70.0%, US stocks 1 3.1%, global stocks 10.2%, US dollar 3.8%, cash 2.9%, HY bonds -0.9%, IG -3.2%, govt bonds -4.4%, gold -4.5%, bitcoin -6.1% YTD. The Biggest Picture: summer of extreme bull sentiment ends, but asset allocators are not underweight risk; '26 record year of inflows (Charts 15-16) to global stocks ($1.3tn annualized), US equities ($636bn), IG bonds ($480bn), tech funds ($196bn – Chart 2), Korea equities ($76bn) vs. rec ...

October 16, 2026 10:19 PM GMT Global Macro Commentary | North America October 16: AI Selloff Meets Oil Surge AI concerns deepen US equity sell-off; Brent reaches $110 amid geopolitical tensions; US rates twist-steepen; Indonesia equities fall 11.6%; DXY at 101.78 (-0.2%); US 10y at 5.07 (+1.5bp). US rates twist-steepen as rising oil prices and inflation concerns pressure the long end, while renewed weakness in AI-related equities supports front-end Treasuries and reduces expectations for an October Fed hike ...