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Wall Street Banks Warn Downturn Is Coming

Thursday, August 24, 2017 | Tag Cloud Tags: News, oil, US Economy, Wall Street, Worthy News | Learn about our FREE SYNDICATION Service | Get the Worthy Brief by email! | Printer Friendly

(Worthy News) – HSBC Holdings Plc, Citigroup Inc. and Morgan Stanley see mounting evidence that global markets are in the last stage of their rallies before a downturn in the business cycle.

Analysts at the Wall Street behemoths cite signals including the breakdown of long-standing relationships between stocks, bonds and commodities as well as investors ignoring valuation fundamentals and data. It all means stock and credit markets are at risk of a painful drop.

“Equities have become less correlated with FX, FX has become less correlated with rates, and everything has become less sensitive to oil,” Andrew Sheets, Morgan Stanley’s chief cross-asset strategist, wrote in a note published Tuesday. [ Source (Read More…) ]

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