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Morgan Stanley Global Investment Committee | May 2020
On the Markets
The Grand Reopening
Everything goes in cycles, and the US economy is no exception. Ironically, in January some pundits were suggesting the business cycle may have been repealed. Three months later, we find ourselves in the steepest recession on record. Most will blame this recession exclusively on the coronavirus, but that was just the trigger. This recession was already coming our way thanks to the excesses that had been building for years.
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