‘This Cycle Does Not Defy All Precedent’: Morgan Stanley Doubles Down In Mid-Year Outlook
On Monday, in the course of documenting a burgeoning tug-of-war between two divergent narratives around the prospects for the reopening push in the wake of rising COVID-19 infection rates in some states, I noted that investors were just becoming comfortable with the economic revival story.
"Were" (past tense), because that story is now in jeopardy from what some are prepared to call a "second wave" of the virus. Indeed, fresh headlines out of Beijing on Tuesday suggest residents at high risk of