from Zero Hedge
Yesterday, when looking at the Morgan Stanley Sunday Start brief which recaps the bank’s key points, we said that “Wall Street’s most accurate analyst” – that would be the bank’s chief US equity strategist Michael Wilson – is bullish over the next 12 months seeing a 10% increase in the broader market, yet bearish into year end, expecting another corrective “drawdown” in the S&P500.
He wasn’t the only one: in a follow up note published this morning, Wilson says that the most common question he heard while marketing the bank’s optimistic, almost euphoria 2021 outlook was that clients “see 2021 upside, but are worried about the next few weeks.”
Wilson then elaborates that he is “not the only ones who are bulls into next year but a bit less comfortable with risk near term. More than a few people were surprised and worried about the inability of the market to break through 3600 on a deluge of good news from vaccine efficacy and lower election related overhangs.“