Morgan Stanley: The Search For Yield Is Logical, DisciplinedMark Melin
Looking at the investing world from the common “hunt for yield” lens is not only tired, but such a clumsy focus might obfuscate the market view. The hunt for yield has been a common narrative, a Morgan Stanley report noted, while pointing to a linkage between low-interest rates and high stock valuations. Investors are in fact acting logically and are not engaged in a reckless behavior.
The search for yield implies investors are making undisciplined investments and it is wrong, says Morgan Stanley . . .
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