Morgan Stanley Sees Narrow Path To ‘Perfect Landing’
Year-ahead outlook pieces from Wall Street are replete with references to a navigable but narrow path to a benign macroeconomic outcome following the most significant coordinated monetary tightening in modern history.
You can pick your metaphor. "Threading the needle" will work. So will "sticking the landing." Morgan Stanley's cross-asset strategy team employed both in one section of a six-dozen page 2024 global strategy outlook.
"For investors, 2024 should be all about threading the needle,"
I’ve read a few items this morning that brought up stress in some originators of Freddie and Fannie mortgages, suggesting there is stress brewing there that so far is “below the fold” of awareness but may be a rising concern as QT etc continues to pinch some of these companies.
Meridian Capital Group has been the No 1 originator so far in various mortgages. Something to keep at eye on while “threading the needle.”