Podcast · 318 episodes
Thoughts on the Market, page 3
by Morgan Stanley · English
Short, thoughtful and regular takes on recent events in the markets from a variety of perspectives and voices within Morgan Stanley.
All episodes, page 3
Data Centers’ Political BattleData center political pushback and its effect on AI-related capital spending, framed as a supply-side risk that may delay, raise costs, and shift geography rather than reduce compute demand.23 Jul 2026 · 5 min · 3 chapters
More Stocks Join the Bull MarketMarket volatility is explained as a rotation: the “broadening trade” is returning as semiconductors lose momentum and leadership shifts from crowded AI/hyperscaler exposure to other improving…22 Jul 2026 · 4 min · 3 chapters
The Global Rate DebateGlobal central bank policy debate—how much room Fed/ECB/BOJ have given resilient growth, easing but still-elevated inflation, and region-specific drivers (AI spending, tariffs/energy, fiscal…21 Jul 2026 · 13 min · 6 chapters
AI Spending: A New Engine for the Global EconomyGlobal economic roundtable focused on an AI-driven capex cycle and its spillovers across the US, Asia, and Europe, plus fiscal constraints in Europe and when AI productivity gains may broaden.21 Jul 2026 · 13 min · 6 chapters
Why Your Medical Bill Is So HighWhy U.S. medical bills feel so high even though official inflation data shows healthcare prices are “in check.” Guests: Andrew Sheets (Global Head of Fixed Income Research, Morgan Stanley) and Mark…17 Jul 2026 · 12 min · 5 chapters
A Test for Capital Markets: Funding AIHow AI-driven infrastructure spending is being financed by debt capital markets—how much debt the AI ecosystem can absorb, at what price, and across investment-grade, high-yield project finance,…16 Jul 2026 · 12 min · 6 chapters
AI as a Sovereign Power“Sovereign AI” as a global policy priority—shifting debate from AI chips to control of the entire AI stack (chips, cloud, frontier models, data centers, cybersecurity standards, and energy systems),…15 Jul 2026 · 5 min · 3 chapters
What’s Fueling Stocks After the AI TradeMorgan Stanley CIO Mike Wilson explains “broadening” beyond the crowded AI trade, why it’s re-emerging after an Iran/oil-driven interruption, and the near-term risks (oil/strait reopening uncertainty…14 Jul 2026 · 5 min · 4 chapters
Lower Prices, Bigger Market: The Next Phase of GLP-1 DrugsHow lower-cost semaglutide generics could change GLP-1 obesity pricing, demand, and supply chains, and what this signals for Europe and the U.S.; also covers terzepatide differentiation, oral GLP-1s,…13 Jul 2026 · 12 min · 7 chapters
A New Chapter for North American TradeUSMCA six-year review outcome and what happens next for North American trade and investors. Guest backgrounds: Ariana Salvatore, head of U.S.10 Jul 2026 · 5 min · 5 chapters
The AI Divide Between the U.S. and JapanHow AI’s productivity impact may diverge between the U.S. and Japan, shaping labor markets, inflation/deflation, and risk assets.9 Jul 2026 · 11 min · 5 chapters
3 Things That Could Break the Summer RallyAndrew Sheets (Morgan Stanley) discusses three potential disruptions to a strong “summer rally” for markets.8 Jul 2026 · 4 min · 3 chapters
AI’s Next Stress TestAI capex outlook amid three pressures: competition from open-source models, enterprise “token maxing” backlash, and political/local opposition delaying data centers.7 Jul 2026 · 12 min · 5 chapters
Next Leg of the Bull Market?Mike Wilson (Morgan Stanley CIO and Chief U.S. Equity Strategist) argues the “broadening trade” in equities can continue, even as semiconductor leadership fades.6 Jul 2026 · 5 min · 3 chapters
America’s Frontier-Market Origin StoryEarly U.S. (1789–1815) as a frontier market and how it became credible despite volatility, weak institutions, and debt.3 Jul 2026 · 7 min · 4 chapters
Investors’ Focus Shifts to Rates and AIInvestor meetings in Europe and Asia focused on (1) the U.S. Fed path after Chair Kevin Walsh’s first June FOMC and (2) whether AI capex is threatened by “chipflation” and funding/efficiency…2 Jul 2026 · 5 min · 4 chapters
What to Watch Ahead of the MidtermsConsumer sentiment, spending plans, and inflation concerns as they relate to the U.S. midterm elections.1 Jul 2026 · 7 min · 3 chapters
The Market Shift Investors May Be MissingMorgan Stanley CIO Mike Wilson argues equity leadership is shifting from crowded AI/semiconductor momentum toward a broader early-cycle style trade.30 Jun 2026 · 6 min · 5 chapters
Comeback for Europe’s Bull Market?Whether European equities can sustain a “comeback” and broaden beyond U.S.-led AI/mega-cap leadership, amid a possible U.S.-Iran deal and reopening of the Strait of Hormuz, plus AI volatility,…29 Jun 2026 · 9 min · 4 chapters
The Warsh Effect on MortgagesHow Fed Chair Warsh’s communication style and shifting rate expectations affect mortgage-backed securities, mortgage rates, and housing activity; also discusses ongoing mortgage-market “technicals”…26 Jun 2026 · 6 min · 3 chapters
Consumer Confidence and the U.S. MidtermsConsumer confidence outlook, tariff/policy catalysts, oil and Middle East risks, and implications for the 2026 U.S.25 Jun 2026 · 10 min · 4 chapters
What a Quieter Fed Could Mean for MarketsThe episode argues the Fed could be “quieter” (less forward guidance) and stay on hold despite higher inflation projections, yet still increase market volatility.24 Jun 2026 · 4 min · 3 chapters
The Obstacles to Buying a First HomeFirst-time homebuying is harder due to higher mortgage rates (around 6.5%), a structurally higher “barrier to entry,” and the lock-in effect that keeps existing homes off the market, limiting…23 Jun 2026 · 13 min · 8 chapters
Why Warsh May Let Markets Tough It OutMorgan Stanley CIO Mike Wilson discusses Fed chair Kevin Warsh’s first FOMC meeting and how markets should interpret it, focusing on credibility, inflation mandate, communication, and near-term…22 Jun 2026 · 5 min · 3 chapters