European Industrials Starting To Look Pricey: Morgan Stanley

In their European strategy report, Morgan Stanley analysts said they believe that in the absence of a sharp economic slowdown, a compelling opportunity has emerged for investors to start selling defensives. Defensives have outperformed strongly Graham Secker and the team at Morgan Stanley said in their European Strategy report dated May 28, 2014 that while defensives have outperformed strongly despite the resilience of macro data, high beta and cyclical stocks have been hurt. Unattractive valuations in consumer staples The Morgan Stanley analysts point out that the consumer staples segment has so far been a big beneficiary of the fall in bund yields. The…