ICYMI – Morgan Stanley CEO James Gorman spoke on an earnings call Tuesday.
- “I’m highly confident that when the Fed pauses, deal activity and underwriting activity will go up. I would bet the year on that, in fact,”
- “We’re not of the view that we’re heading into a dark period. Whatever negativity in the world is out there. That’s not our house view.”
- said the Fed’s next move will likely be a 0.25 percentage point rate hike, followed by a pause.
- said he is not sure if the Fed will cut rates this year
- “I’m a little more confident about the medium-term outlook for the markets”
The benchmark S&P500 has found support from lower inflation figures out of the US and the prospects for a Fed pause and maybe even cut: