Thoughts on the Market
Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
Episodes
Our Head of U.S. Public Policy Research Ariana Salvatore explains how U.S.-China tensions, export controls and domestic regulation are reshaping where AI is built, who controls it and what investors should watch.
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Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of U.S. Public Policy Research at Morgan Stanley.
Today, a look at how govern...
America’s biggest banks are opening more local branches. Our Head of U.S. Large Cap and Mid Cap Banks Research Manan Gosalia looks at the merits of physical locations.
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Manan Gosalia: Welcome to Thoughts on the Market. I'm Manan Gosalia, Morgan Stanley's Head of US Large Cap and Mid Cap Banks Research.
Today: why the bank branch you pass on your commute may matte...
From short-term interest rates to long-term bond yields, the Fed's credibility is being tested. Global Head of Fixed Income Research Andrew Sheets discussed inflation, Federal Reserve Chair Kevin Warsh's outlook, and the options ahead.
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Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today: Ca...
Head of US Public Policy Strategy Ariana Salvatore and US Thematic Strategist Michelle Weaver, alongside Senior Economist and Strategist in Morgan Stanley’s Private Wealth Management Sarah Wolfe, examine the economics of the AI datacentre boom, the pushback and the policy implications.
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----- Transcript -----
Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of...
Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why investors should favor quality as the market moves from early-cycle momentum to more disciplined, mid-cycle leadership.
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----- Transcript -----
Mike Wilson: Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today on the podcast I’ll be discussing the ongoing transi...
Our Strategist Michelle Weaver talks to Michael Zezas and Jessica Alsford, Co-Directors of the Morgan Stanley Institute, about how AI, energy resilience and industrial policy are changing investment decisions.
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----- Transcript -----
Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, Morgan Stanley's U.S. Thematic and Equity Strategist.
Michael Zezas: I'm Michael Zezas, co-di...
Our Global Head of Thematic and Sustainability Research Stephen Byrd explains why the recent AI infrastructure selloff may reflect technical pressures, not weakening fundamentals.
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Stephen Byrd: Welcome to Thoughts on the Market. I’m Stephen Byrd, Morgan Stanley’s Global Head of Thematic and Sustainability Research.
Today: Are investors misreading the AI infrastr...
How much runway does the world’s energy market still have? Our Head of Commodity Research Martijn Rats joins our Global Head of Fixed Income Research Andrew Sheets to explain what’s causing pressure beyond renewed tensions in the Middle East.
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----- Transcript -----
Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stan...
Our Global Head of Macro Strategy Matthew Hornbach and Chief U.S. Economist Michael Gapen unpack what is likely to influence this week’s interest rate decision by the Fed.
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----- Transcript -----
Matthew Hornbach: Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy.
Michael Gapen: And I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist.
Matt...
Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why he thinks the bull market has entered a new phase, with more focus on quality.
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----- Transcript -----
Mike Wilson: Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today on the podcast I’ll be discussing the transition from early- to mid-cycl...
Looking at clues from the past, our Global Head of Fixed Income Research Andrew Sheets examines how the recurring themes – from deregulation to volatility – are shaping markets and why every cycle still takes its own path.
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----- Transcript -----
Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Today, wha...
Despite growing political resistance, investment in data centers isn't slowing. Ariana Salvatore explains why supply constraints may actually accelerate AI capital spending.
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----- Transcript -----
Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research at Morgan Stanley.
Today, I'll be talking about why we still expect robust AI capital spending ...
Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why market leadership is rotating beyond semiconductors and where investors may find opportunities despite near-term volatility.
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----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today on the podcast, I will explain why the recent volatility in ...
In the second part of our economic roundtable, Michael Gapen, Jens Eisenschmidt and Chetan Ahya join Seth Carpenter to discuss how central banks are balancing sticky inflation, resilient growth and regional policy trade-offs.
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----- Transcript -----
Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research.
And o...
AI investment is reshaping the global outlook. In part one of this economic roundtable, our panel explores where the momentum is strongest — and where investment still needs to catch up.
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----- Transcript -----
Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research.
Michael Gapen: And I'm Michael Gapen, ...
Our analysts Andrew Sheets and Mark Schmidt unpack why U.S. healthcare feels so expensive and the potential impacts of rising hospital costs.
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----- Transcript -----
Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley.
Mark Schmidt: And I'm Mark Schmidt, Head of Municipal Strategy at Morgan Stanley.
Andrew Sheets: A...
Credit markets are stepping in to fund the surging demand for AI. Our experts Lindsay Tyler and Anish Shah explore the opportunities and risks behind this record financing wave.
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----- Transcript -----
Lindsay Tyler: Welcome to Thoughts on the Market. I'm Lindsay Tyler, TMT Credit Research Analyst at Morgan Stanley.
Anish Shah: And I'm Anish Shah, Global Head of Debt Capital Markets at Morga...
AI has become a strategic policy priority as governments race to secure their technological future. Our Head of U.S. Public Policy Research Ariana Salvatore explores what’s driving the shift and the implications for markets.
Read more insights from Morgan Stanley.
----- Transcript -----
Welcome to Thoughts on the Market. I’m Ariana Salvatore, Head of U.S. Public Policy Research at Morgan Stanley.
Today: Why sovereign AI is ...
Our CIO and Chief U.S. Equity Strategist Mike Wilson discusses where investors may find opportunity beyond the AI sector and risks that could slow market gains.
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----- Transcript -----
Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley’s CIO and Chief U.S. Equity Strategist.
Today on the podcast I’ll be discussing our broadening thesis and the near-term...
Cheaper obesity medicines could unlock broader demand, while supply-chain bottlenecks and premium-drug innovation may also shape how the market evolves. Our analysts Terence Flynn and Thibault Boutherin break down the investor implications.
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----- Transcript -----
Terence Flynn: Welcome to Thoughts on the Market. I'm Terence Flynn, Morgan Stanley's U.S. Pharma and Biotech Analyst.
Thibault B...
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