Earlier we mentioned a survey of 150 clients undertaken by Morgan Stanley, and noted that by and large their opinions reflected what’s happening in the market today.
So for example they like gold, emerging markets, and they think bond yields will stay somewhere between 2% and 3%.
But this result stood out. Contrary to what rates would suggest — that the US is a steller credit — more than 50% of respondents see the sovereign debt crisis coming to the US by 2012. Almost nobody thinks the US can go unscathed.
Photo: Morgan Stanley