What will it take to fuel a stock market recovery? More stimulus. According to Morgan Stanley’s chief U.S. equity strategist Mike Wilson, the passage of another stimulus bill in the near-term is a “critical” component of the market’s recovery. Once the bill, which might reach $2 trillion, is passed, he argues the fiscal package will spur an increase in back-end interest rates, igniting a move to cyclical names.“The fiscal package ironically could actually stimulate the perception that the economy will be better next year, rates shoot up, and that will affect that rotation back towards these COVID beneficiaries in the …read more
Source:: Yahoo Finance
