Great rotation move over!
Once markets get comfortable with near-term risks of oil, U.S. earnings, and currency volatility, equities should continue to do well in 2015, according to Morgan Stanley.
In its February 13, 2015 research report titled: “Our 2015 Thesis: The Great Rebalancing Act”, Morgan Stanley notes active managers will likely continue to perform well this year.
2015 – The year of great rebalancing
The Morgan Stanley report notes flattening of the yield curve, valuation compression, rotation to late-cycle stocks, underperformance of EM and small caps and a strengthening U.S. dollar all suggest that the markets are in a rebalancing mode.
It also highlights that the strength of U.S. dollar should help rebalance global growth:
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