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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  25-Oct-2021  •  17:00 Min

A Bearish View on the U.S. Dollar and its Impact on the Market 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Equity Observer  •  25-Oct-2021

No Margin for Error  

International Equity Team
Against a relatively positive macroeconomic outlook, there is the potential for significant cost pressures over the next decade, where pricing power will be the key for quality companies to protect margins. The International Equity team explores.

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Engagement Report  •  25-Oct-2021

Engage Autumn 2021 

International Equity Team
The latest edition of Engage, the International Equity Team’s semi-annual update on their ESG engagement activity.

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Caron's Corner  •  18-Oct-2021  •  12:33 Min

Take it or Leave it: Global Central Banks Are Split on How to Handle Inflation 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Fixed Income Bulletin  •  15-Oct-2021

Who Let the Hawks Out? 

Global Fixed Income Team
With inflationary pressures stronger and central banks less dovish, we expect government bond yields to drift higher as we move towards tighter monetary policy.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  06-Oct-2021

Categorizing for Clarity: Cash Flow Statement Adjustments to Improve Insight 

Michael Mauboussin, Dan Callahan
Accounting has not kept pace with the changing economics of businesses, which has created a huge gap between what companies report in their financial statements and what an investor needs to understand a business. To better categorize activities, we suggest making adjustments within the statement of cash flows pertaining to stock-based compensation, leases, and intangible investments. We believe these adjustments substantially improve the description of a business. We share a case study of Amazon for 2020 to make the concepts more concrete.

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sustainable-investing solutions-and-multi-asset Solutions & Multi-Asset page
Sustainable Investing  •  05-Oct-2021

Climate Transition 

Andrew Harmstone, Li Zhang, Christian Goldsmith
Given the increasingly disruptive force of climate events, achieving net-zero carbon emission promises to be one of the themes driving investment markets over the coming decades. We analyse responses, risks and opportunities by country and sector.

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Global Multi-Asset Viewpoint  •  04-Oct-2021

What Is The Bond Market Thinking? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “What Is The Bond Market Thinking?"

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Caron's Corner  •  04-Oct-2021  •  13:38 Min

Stagflation? No! But Watch the Dollar. 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Multi-Asset Viewpoint  •  30-Sep-2021

Why the U.S. Housing Boom Can Continue 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Why the U.S. Housing Boom Can Continue"

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sustainable-investing convergence active-fundamental-equity Active Fundamental Equity page
Convergence  •  29-Sep-2021

Beyond Virtue Signaling: Financial Materiality of Carbon Emissions 

Counterpoint Global
Sustainability Research at Counterpoint Global has produced a method to systematically measure the potential cost of carbon emissions as well as the financial impact of a carbon tax. Our framework allows us to translate these costs into estimates of stock returns. We believe that measuring the cost of carbon emissions allows us to better understand the environmental risks for the companies in our portfolio as well as for those we do not own. We also seek to help our clients benefit from the many opportunities that a low-emissions world could create.

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Caron's Corner  •  27-Sep-2021  •  9:16 Min

Why U.S. Bond Yields Are Rising – and How High They May Go 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  22-Sep-2021  •  11:14 Min

FOMC Recap: Hawkish Dot-plot, but Dovish Presser  

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  20-Sep-2021  •  8:25 Min

Ambiguity, not Volatility, Is the Primary Market Risk Currently – How Will the Fed React? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Fixed Income Bulletin  •  15-Sep-2021

Traversing Peaks 

Global Fixed Income Team
With investors debating when economic growth, Covid and inflation will peak, it may be useful to focus on what we know with certainty rather than sentiment.

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Global Equity Observer  •  14-Sep-2021

Advance Warming 

International Equity Team
The summer of fire and floods has highlighted the compounding effect of global warming, presenting companies with an array of risks and opportunities. Laura Bottega explains how these ESG factors help shape our portfolios.

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Caron's Corner  •  13-Sep-2021  •  09:20 Min

The Payfors of Taxes, Debt and Inflation May Create a Noisy September 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  10-Sep-2021

Equity Market Commentary - Sept 2021 

Applied Equity Advisors Team
In his September TAKE, Andrew Slimmon discusses, region by region, where he and his Applied Equity Advisors team see the best equity opportunities and how their portfolios are positioned.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  08-Sep-2021

Turn and Face the Strange 

Michael Mauboussin, Dan Callahan
This report examines the barriers to change for organizations. We use sports as the prime example but then apply the lessons to investment management. Organizations can be slow to adopt certain approaches even when they add value due to loss aversion, a preference for the status quo, and the fear of poor outcomes in the short run. Organizations may overcome these challenges by aligning behind a commitment to improvement, learning, transparency, and accountability. Good long-term results require developing and executing strategies that add value.

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Caron's Corner  •  07-Sep-2021  •  11:01 Min

The Four Corners of Risk – And Why Yields Can Rise 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  31-Aug-2021

Inflation Outlook – One Year Later 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Inflation Outlook – One Year Later"

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Caron's Corner  •  30-Aug-2021  •  8:10 Min

Still on Easy Street – But What Are the Risks? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  23-Aug-2021

The Impact of a Shift From Reflation to Recovery 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  23-Aug-2021

Global Equity Observer: A Collection of Quality Insights – Volume 1 

International Equity Team
This May, the International Equity team celebrated the publication of our 50th Global Equity Observer (GEO) – our monthly series of investment insights through the lens of our high quality investment approach. We are delighted to share with you this selection of articles from our GEO series.

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Global Fixed Income Bulletin  •  19-Aug-2021

What's Going On?  

Global Fixed Income Team
Looking at the performance of U.S. Treasuries (and other developed government bond markets), one could be forgiven if one believed the economy was sinking. Other financial asset prices are sending a message that all is well. What gives? The Global Fixed Income Team explores.

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Global Equity Observer  •  13-Aug-2021

Back to Basics 

International Equity Team
In a world of daily financial chatter, it’s easy to get distracted from what drives the core of long-term returns; the power of compounding. William Lock and Alistair Corden-Lloyd explain.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  10-Aug-2021

The Electric Summer of ’91: India’s Hopes Then and Now 

Global Emerging Markets Team
India needs to keep in mind is that its economy is still relatively unfree, and so more than ever it should buck the global trend of more regulation and bigger government. Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, explains.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  03-Aug-2021

Everything Is a DCF Model 

Michael Mauboussin, Dan Callahan
We suggest the mantra “everything is a DCF model.” Whenever investors value a stake in a cash-generating asset, they should recognize they are using a discounted cash flow (DCF) model. The topic deserves attention because many market participants don’t think DCF models are relevant, and many use heuristics for value without recognizing the purpose and limitations of the shorthands. The intrinsic value, determined by the present value of future cash flows, attracts the price like a magnetic force. This means it is useful for investors to keep in mind the value drivers of a discounted cash flow model.

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Caron's Corner  •  02-Aug-2021  •  11:45 Min

Money Never Sleeps. . .but Bond Yields Do 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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private-credit-and-equity Private Credit & Equity page
Insight Article  •  31-Jul-2021

Increasing Duration Opens Up New Realms for the Private Equity Secondaries Market 

AIP Private Markets Team
The AIP Private Markets Secondaries team explores possible solutions to check or reverse the upward trend in duration and allay investors' concerns about increasing their allocation to private equity.

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Caron's Corner  •  26-Jul-2021  •  8:51 Min

Why Bond Yields Are Low – Technicals vs. Fundamentals 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Equity Observer  •  23-Jul-2021

Quality in a Brave New World 

International Equity Team
The International Equity team argues that the case for quality compounders remains largely unchanged in the “Brave New World” of reflation and inflation. Bruno Paulson discusses.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  20-Jul-2021

Whither the Bubblets of 2021? 

Global Emerging Markets Team
As worry spreads about the rise and fall of market bubbles, questions are asked about whether these price moves count as “bubbles,” poised to pop. Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, looks at history for the answer.

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sustainable-investing real-assets Real Assets page
Sustainable Investing  •  19-Jul-2021

Climate-Related Risk Data for Real Assets: A Framework for Assessment  

Morgan Stanley Real Estate Investing
A new framework for assessing climate risk data may help real estate investors evaluate risks.

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Caron's Corner  •  19-Jul-2021  •  9:49 Min

Pricing the Trough After the Peak - but the Level Matters 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Fixed Income Bulletin  •  16-Jul-2021

Where Is All the Yield Going? 

Global Fixed Income Team
Yields continuing to fall, credit spreads tightening and equities rallying despite bearish news. The Global Fixed Income team discuss an extraordinary June.

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Takeaways & Key Expectations  •  14-Jul-2021

Equity Market Commentary - July 2021 

Applied Equity Advisors Team
In his July TAKE, Andrew Slimmon shares his thoughts on the latest equity selloff in China and where he and his Applied Equity Advisors team stand with respect to the longer term investment prospects.

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Caron's Corner  •  12-Jul-2021  •  10:32 Min

Reflation and Reverse Repos: Following the Money 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  06-Jul-2021  •  7:07 Min

Bond Yields Are Falling Despite Stronger Data: What’s Going On? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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resilience solutions-and-multi-asset Solutions & Multi-Asset page
Resilience  •  30-Jun-2021

Long Short Equity Strategies: "Hedging" Your Bets 

AIP Hedge Fund Team
Amid the market uncertainty caused by the COVID-19 pandemic, investors may be seeking ways to add resilience to their portfolios. Long-short equity strategies have the potential to deliver steady returns in volatile markets.

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market-pulse fixed-income Fixed Income page
Market Pulse  •  30-Jun-2021

The Policy Puzzle: Procyclical or Countercyclical 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  28-Jun-2021  •  14:12 Min

Infrastructure a-Go-go: What it Means for Markets 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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private-credit-and-equity Private Credit & Equity page
Insight Article  •  23-Jun-2021

Investing in Startups Founded by Women and Multicultural Entrepreneurs 

Morgan Stanley Next Level
As part of its ongoing commitment to advance racial and economic equity, Morgan Stanley’s new Next Level Fund invests in early-stage technology companies with women and diverse members on the founding teams.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  23-Jun-2021

The Impact of Intangibles on Base Rates 

Michael Mauboussin, Dan Callahan
The shift in investments from tangible to intangible assets has important implications for how investors should think about corporate growth rates. Companies with more intangible assets can grow faster, but they can also become irrelevant and shrink faster. Our analysis of historical sales growth rates for U.S. companies reveals both of these results: higher growth and more dispersion, on average, for companies and industries with the highest intangible asset intensity. Skillful investors may be able to identify the companies that will grow faster than expected, hence providing the potential for attractive returns.

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Global Equity Observer  •  22-Jun-2021

Low Carbon Ambition 

International Equity Team
The companies within the International Equity team’s portfolios are encouraging their customers to live more sustainably. William Lock and Laura Bottega discuss.

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Caron's Corner  •  21-Jun-2021  •  11:18 Min

Is This the Start of Something Bigger? A Look at Asset Pricing 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Takeaways & Key Expectations  •  16-Jun-2021

Equity Market Commentary - June 2021 

Applied Equity Advisors Team
In his June TAKE, Andrew Slimmon shares a number of historical market precedents that may provide insight regarding current equity markets and investor behavior.

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Global Fixed Income Bulletin  •  16-Jun-2021

Where Did Volatility Go? 

Global Fixed Income Team
A quiet May saw the constructive market narrative continue. How long will this last, what does this mean for investors? The Global Fixed Income team discuss.

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Caron's Corner  •  16-Jun-2021  •  8:41 Min

Key Takeaways From Today’s Fed Meeting 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  14-Jun-2021  •  11:16 Min

What if Inflation Is Not Transitory - and What Happens Next? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing fixed-income Fixed Income page
Sustainable Investing  •  08-Jun-2021

MSIM’s Securitized Sustainability Framework: Promoting Responsible Lending & Driving Positive Impact Alignment 

Gregory Finck, Navindu Katugampola, Barbara Calvi, Erin K. Glenn
Environmental, Social and Governance (ESG) factors are most often discussed in the context of corporate and sovereign debt issuers. But that’s changing, according to the Securitized Fixed Income Team, as client demand is driving change when it comes to mortgage and other asset-backed securities.

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Caron's Corner  •  07-Jun-2021  •  11:54 Min

The Jobs "Wager"  

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing page
Sustainable Investing  •  03-Jun-2021

Mona Benisi Wins 2021 Women in Sustainability Leadership Award 

Mona Benisi wins prestigious Women in Sustainability Leadership Award

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  02-Jun-2021

Where the Digital Future Will Unfold 

Global Emerging Markets Team
The most ingenious uses of future digital technology are likely to be shaped in the emerging world. Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, discusses.

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sustainable-investing fixed-income Fixed Income page
Sustainable Investing  •  02-Jun-2021

MSIM Fixed Income Engagement Strategy: Integrated, Insightful, Influential 

Barbara Calvi, Navindu Katugampola, Anuj Gulati
Fixed income investors play an important role in pursuing positive sustainability outcomes through a constructive dialogue with issuers around ESG. The MSIM Global Fixed Income Team explains how they incorporate engagement throughout their investment process.

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Caron's Corner  •  01-Jun-2021  •  11:16 Min

Labor, Labor, Everywhere, Not a Person to Hire 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  30-May-2021

Sectoral Bubbles in U.S. Equities 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Sectoral Bubbles in U.S. Equities"

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  26-May-2021

Scale and Diversification 

International Equity Team
The twin virtues of scale and diversification in our high-quality holdings have played a part in their strong earnings performance both through the recent crisis and over time. Marcus Watson explains.

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Market Pulse  •  25-May-2021  •  12:00 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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Takeaways & Key Expectations  •  24-May-2021

Equity Market Commentary - May 2021 

Applied Equity Advisors Team
In his May TAKE, Andrew Slimmon shares his thoughts about what might happen to the U.S. equity markets should Wall Street continue to revise earnings estimates upward.

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Caron's Corner  •  24-May-2021  •  8:24 Min

It’s Better to Travel Than Arrive 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  19-May-2021

The Economics of Customer Businesses 

Michael Mauboussin, Dan Callahan
This report focuses on the customer as the basic unit of analysis in understanding value. The idea of customer lifetime value has been around for decades, but we believe our discussion is richer and more nuanced than what many companies and analysts present. We discuss a framework called customer-based corporate valuation, which links customer economics to shareholder value and offers a more robust way to forecast revenues. We also show the limitations of common ratios such as customer lifetime value to customer acquisition cost (LTV/CAC), explore how companies can create consumer and supplier surplus, provide a case study, examine trade-offs in the drivers of value, and explore common errors.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  17-May-2021  •  11:48 Min

Like Looking Through a Dirty Window: The Data Is Noisy and Unclear 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  14-May-2021

Welcome to the Brave New World! 

Global Fixed Income Team
After rising significantly in March, U.S. Treasuries and most other developed market government bond yields fell measurably, despite solid, surprisingly strong economic data. The Global Fixed Income Team examines what these dynamics mean for fixed income investors.

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real-assets Real Assets page
Insight Article  •  13-May-2021

U.S. Office Workplace Survey: Reduced, Reconfigured, but Still Required 

Morgan Stanley Real Estate Investing
The largest investable commercial real estate segment in the U.S., the office sector has also been the most affected by the pandemic. Morgan Stanley Real Estate Investing conducted a survey of U.S. corporates to find out what will really be the lasting impact of COVID-19 on the sector. The findings are in the team’s latest piece.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  11-May-2021  •  10:51 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  10-May-2021  •  9:58 Min

There Is a Risk of Investor Complacency. Here’s How Bonds Can Help 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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market-pulse active-fundamental-equity Active Fundamental Equity audio
Market Pulse  •  05-May-2021  •  4:54 Min

Five Reasons To Be Bullish on the American Consumer 

Active International Allocation Team
Jitania Kandhari, Head of Macroeconomic Research for the Global Emerging Markets Team and Co-Manager of the Active International Allocation Portfolio, outlines her five reasons to have confidence in the American consumer.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  03-May-2021  •  8:30 Min

Strong Data Brings Inflation Risks – Should We Be Worried? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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real-assets Real Assets page
Media Appearance  •  03-May-2021

Back to the Future With the Energy Transition 

Morgan Stanley Infrastructure Partners
The outlook for renewable energy infrastructure in the U.S. has never looked more promising. Morgan Stanley Infrastructure Partners’ Chris Ortega discusses the importance of investing to support the whole value chain of technologies that will facilitate the transition away from carbon-intensive energy systems.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  30-Apr-2021

Could Value be Starting a Structural Bull Market? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Could Value be Starting a Structural Bull Market?"

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  29-Apr-2021

Is quality now (relatively) on sale? 

International Equity Team
There are reasons to believe that the recent “Growth Bubble” may have peaked and the “Value Rally” is nearing its end. In our minds this presents an excellent opportunity to invest in Quality Compounders. Bruno Paulson explores.

10013399_Quality_on_Sale_Insight-Tile-1x1
 
market-pulse fixed-income Fixed Income page
Market Pulse  •  29-Apr-2021

A Strong Recovery in the Economy is Still Falling Short of Fed Objectives 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  28-Apr-2021  •  9:54 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

3398242_lynyak_Insight-Tile-1x1
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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  26-Apr-2021  •  7:56 Min

The Policy Clash Point? Worries of an Easy Fed Transitioning to Future Tightening may be Premature 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  23-Apr-2021

The More Things Change, the More they Stay the Same 

Global Fixed Income Team
Vaccination numbers are far better than anticipated, but, given market pricing and expectations, the strategy implications remain unchanged. GFIO Team explores.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  19-Apr-2021  •  9:16 Min

Twin Peaks: After Growth and Fiscal Spending Plateau, What Comes Next? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  14-Apr-2021

Market-Expected Return on Investment 

Michael Mauboussin, Dan Callahan
This report describes market-expected return on investment (MEROI), which measures the return at which the present value of a company’s profits equals the present value of its investments. This allows executives and investors to see how high the bar is set. Measuring returns has become harder as investments have shifted from being mostly tangible to intangible. We gain a clearer view of returns and expectations by separating expenses and investments properly. We break new ground by connecting valuation and accounting.

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fixed-income Fixed Income page
Insight Article  •  12-Apr-2021

What a difference a year makes: High yield opportunities in 2021 

Richard Lindquist, Jack Cimarosa
Amid improving economic data, declining defaults, and the relatively low level of nominal and real yields the Global High Yield Team explains why they believe high yield bonds remain one of the most appealing investment options available across Fixed Income.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  12-Apr-2021  •  10:53 Min

Inflation Rising Sharply but Is it Anchored or De-anchored? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing active-fundamental-equity Active Fundamental Equity page
Sustainable Investing  •  08-Apr-2021

Decarbonisation: The Basics 

Vladimir Demine, Candida de Sliva
Decarbonisation 101. The International Equity Team discusses how a high quality equity portfolio can help investors seeking to reduce their carbon footprint.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  07-Apr-2021

Brazil: Populism versus Commodities  

Global Emerging Markets Team
Will doubts about economic reform prevent Brazil from capitalizing on the nascent revival of commodity prices in emerging markets? Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, discusses.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  31-Mar-2021

Will the Bond Bear Kill the Equity Bull? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Will the Bond Bear Kill the Equity Bull?"

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  31-Mar-2021

Why big brands thrive in a digital age 

International Equity Team
Hasn’t the internet leveled the playing field for big and small brands? Nic Sochovsky of the International Equity team looks at why big brands continue to thrive in the digital age.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  30-Mar-2021  •  8:42 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  29-Mar-2021  •  6:21 Min

After the U.S. in Q1, Where Is the Next Big Growth Surprise? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  22-Mar-2021

Have We Reached ‘‘Peak Surprise” for 2021? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing solutions-and-multi-asset Solutions & Multi-Asset page
Sustainable Investing  •  21-Mar-2021

ESG Investing: Living in a Material World 

Applied Equity Advisors Team
Can exemplary corporate behavior on ESG issues really translate into better financial results? As Leslie Delany of the Applied Equity Advisors team explains, the answer is a resounding yes. The key is materiality.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  17-Mar-2021

Equity Market Commentary - March 2021 

Applied Equity Advisors Team
In his March TAKE, Andrew Slimmon addresses three timely questions that currently puzzle investors about opportunities in the equity market and potential ways to put additional funds to work.

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sustainable-investing active-fundamental-equity Active Fundamental Equity video
Sustainable Investing  •  17-Mar-2021

Investing Wisely By Avoiding Permanent Destruction of Capital 

International Equity Team
Jill Ytuarte breaks down what the International Equity Team believes is their chief responsibility to clients.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  16-Mar-2021  •  10:22 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Mar-2021

A Tantrum, or the Return to Fair Value? 

Global Fixed Income Team
It’s all about the economy. According to the Global Fixed Income Team, the outlook for fixed income, more than ever, is about the trajectory of the economy and policymakers’ attitude towards it.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  15-Mar-2021  •  7:05 Min

The Fed: Waiting For (the) Go-Dot 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing active-fundamental-equity Active Fundamental Equity video
Sustainable Investing  •  15-Mar-2021

Holistic and Responsible Investing in a Rapidly Changing World 

International Equity Team
Laura Bottega discusses how global factors encourage companies to balance profit and ESG.

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solutions-and-multi-asset Solutions & Multi-Asset page
Insight Article  •  12-Mar-2021

"Undiscovered" Secondary Markets 

AIP Hedge Fund Team
Secondary markets for hedge funds and private credit may not be well known to investors, but they can offer compelling returns and important risk mitigation benefits.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  09-Mar-2021

Why the Housing Boom Has Legs 

Global Emerging Markets Team
The pandemic has been full of surprises for global markets, none more unexpected than the housing boom. Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, explores.

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carons-corner fixed-income Fixed Income audio
Market Pulse  •  08-Mar-2021  •  7:24 Min

Bond Yields Are Actually Low, Not High 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing active-fundamental-equity Active Fundamental Equity video
Sustainable Investing  •  08-Mar-2021

ESG Focus Adds Value For Our Clients 

International Equity Team
Vladimir Demine explains why having a dedicated head of ESG research is the right thing to do for clients.

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real-assets Real Assets pdf
Media Appearance  •  07-Mar-2021

Crain's Notable Women on Wall Street 

Morgan Stanley Real Estate Investing
Cindy Dishmey, head of Data Strategy for Investment Management’s Global Real Assets group, named in Crain’s 2021 Notable Women on Wall Street list.

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sustainable-investing active-fundamental-equity Active Fundamental Equity video
Sustainable Investing  •  03-Mar-2021

Being Principled, Without Sacrificing Return 

International Equity Team
William Lock explains why there is no need for compromise between returns and principles.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  02-Mar-2021  •  16:47 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  01-Mar-2021  •  8:53 Min

There’s a Thin Line Between Easy and Tight Policy 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing active-fundamental-equity Active Fundamental Equity page
Sustainable Investing  •  25-Feb-2021

The Material Risk Indicator: A proprietary framework for assessing ESG risks and opportunities 

Vladimir Demine, Nathan Wong
How to record ESG company risks and opportunities in a consistent and comparable way? The International Equity Team explains the Material Risk Indicator.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  24-Feb-2021

Equity Market Commentary - February 2021 

Applied Equity Advisors Team
In his February TAKE, Andrew Slimmon explains an indicator he has watched spanning back to his days as a financial advisor in the 1990s.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  24-Feb-2021

Insta-engagement 

International Equity Team
Having engaged with company management and their boards for more than 20 years, Bruno Paulson explains why the International Equity team favours meaningful long-term engagement over faddy box-ticking.

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sustainable-investing fixed-income Fixed Income page
Sustainable Investing  •  24-Feb-2021

Assess, Engage, Perform: The Value of ESG Integration within High Yield 

Sarah Harrison, Navindu Katugampola, Barbara Calvi
Integrating ESG considerations into the high yield market presents both challenges and opportunities for investors. The Global Fixed Income team provides tangible examples of how their ever-evolving ESG framework has helped contribute to both alpha generation and risk mitigation in the last year.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  22-Feb-2021  •  10:22 Min

Clearing Initial Hurdles on the Track to Recovery 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  20-Feb-2021

What’s in Store for Real Rates in the U.S.? 

Sergei Parmenov, Cyril Moulle-Berteaux
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “What’s in Store for Real Rates in the U.S.?"

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  16-Feb-2021  •  8:04 Min

Rising Yields v Sustainable Growth: What Tips the Scales? 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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sustainable-investing convergence active-fundamental-equity Active Fundamental Equity page
Convergence  •  16-Feb-2021

Culture Quant Framework 

Counterpoint Global
Company culture is essential to unleashing the ingenuity that drives intangible investments, yet it continues to defy quantification. Counterpoint Global identified employee retention as a significant indicator of culture. They show how it correlates with attractive stock returns and how this analysis is integrated into their Sustainability Research process.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Feb-2021

Alea iacta est ('the die is cast') 

Global Fixed Income Team
We want to own those areas that can withstand further macro/virus volatility and higher yields but have enough yield/spread to offer reasonable 2021 returns.

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sustainable-investing engagement-report page
Engagement Report  •  12-Feb-2021

ESG and Sustainable Investing Report 

Kristian Heugh, Marc Fox, Emily Tsui
The Global Opportunity team shares its annual report on ESG engagement activity.

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active-fundamental-equity Active Fundamental Equity audio
Insight audio  •  12-Feb-2021  •  6:31 Min

Emerging Market Allocation: How Much to Own? 

Global Emerging Markets Team
Jitania Kandhari, Head of Macroeconomic Research for the Global Emerging Markets Team and Co-Manager of the Active International Allocation Portfolio, reviews three key approaches to answer the most popular question her team gets asked – "How much should we invest in EM?"

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active-fundamental-equity Active Fundamental Equity audio
Insight audio  •  12-Feb-2021  •  5:43 Min

Why We Believe Emerging Markets Are Poised for a Comeback 

Global Emerging Markets Team
Jitania Kandhari, Head of Macroeconomic Research for the Global Emerging Markets Team and Co-Manager of the Active International Allocation Portfolio, outlines four trends she believes will lead to an EM comeback in the next five to ten years.

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solutions-and-multi-asset Solutions & Multi-Asset page
Insight Article  •  10-Feb-2021

The Rise of Hedge Fund Co-Investments 

AIP Hedge Fund Team
Hedge fund co-investments have an important role to play in client portfolios, explains AIP Hedge Fund Solutions Team Managing Director Jarrod Quigley.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  09-Feb-2021

Why Crypto Is Coming Out of the Shadows 

Global Emerging Markets Team
Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, looks at how cryptocurrencies are rapidly gaining popular support as alternatives to gold and the dollar.

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active-fundamental-equity Active Fundamental Equity page
Insight Article  •  09-Feb-2021

All we are saying is give EAFE a chance 

International Equity Team
Bruno Paulson suggests reasons to believe it may be possible for EAFE to “out-earn” the U.S. in 2021 and beyond.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  08-Feb-2021  •  9:04 Min

Some Like it Hotter: The Inflation Debate Between Janet Yellen and Larry Summers 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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page
Insight Article  •  01-Feb-2021

Press Release to the Announcement pursuant to Section 14 para. 3 sentence 1 no. 2 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG)  

As of today, the offer document for the voluntary public takeover offer (cash offer) of Kublai GmbH, Frankfurt am Main, Germany, an affiliate of funds managed and advised by Morgan Stanley Infrastructure Inc., to the shareholders of Tele Columbus AG, Berlin, Germany, for the acquisition of their registered no-par-value shares in Tele Columbus AG (ISIN DE000TCAG172) as well as its non-binding English convenience translation are available for distribution free of charge at BNP Paribas Securities Services S.C.A., Frankfurt Branch, Europa-Allee 12, 60327 Frankfurt am Main, Germany.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  01-Feb-2021  •  7:11 Min

Despite Some Volatility, We Are Sticking With Our Reflation Thesis 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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2021-outlooks fixed-income Fixed Income page
2021 Outlooks  •  26-Jan-2021

Promising Signs for Securitized Products 

Global Fixed Income Team
The impacts of COVID-19 on risk and performance across securitized sectors have varied significantly. Yet, the Securitized Fixed Income team believes the market has reasonably adjusted credit spreads to reflect current risk profiles making a promising outlook for securitized assets in 2021.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  25-Jan-2021

The Market Expects a Q2 Boom; The Virus Might Think Otherwise 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

caronscorner-Insight-Tile-1x1
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2021-outlooks fixed-income Fixed Income page
2021 Outlooks  •  20-Jan-2021

Seeking Value in European High Yield 

Sarah Harrison, Shane McNamara
A closer look at the European High Yield sector reveals an improvement in quality over the long-term. Read why the Global Fixed Income team believes there is a compelling case to be made for investing in this sector in 2021.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  19-Jan-2021  •  7:06 Min

The Biden Stimulus Package Takes Center Stage  

Global Fixed Income Team
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

caronscorner-Insight-Tile-1x1
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solutions-and-multi-asset Solutions & Multi-Asset page
Insight Article  •  15-Jan-2021

Market Timing in Private Investments 

Portfolio Solutions Group
In this paper, the PSG Team analyzes whether GPs have been able time the market and increase investments in favorable years. The team concludes that GPs have not historically taken advantage of market timing and thus investors should increase their commitments in order to obtain the desired exposure to investments at favorable valuations.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  15-Jan-2021

Emerging Markets: Poised for a Multi-Year Upcycle 

Sergei Parmenov, Cyril Moulle-Berteaux
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Emerging Markets: Poised for a Multi-Year Upcycle"

insight-tile-GMA-Viewpoint
 
2021-outlooks tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  12-Jan-2021

The Top Ten Trends of 2021 

Global Emerging Markets Team
Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, unveils his top ten trends of 2021.

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carons-corner fixed-income Fixed Income audio