Morgan Stanley says pro-reflation investments will continue to do well.
“Of course, valuations look expensive, but the sector is likely to outperform if EPS (earnings per share) downgrades resume elsewhere."
A firm that manages to pull away from the pack will be the one that can deliver new sources of value while simultaneously delivering legacy services.
Pelosi (D-Calif.) said negotiators in Washington had not reached a deal on the next round of federal coronavirus aid despite pressure from Trump.