Morgan Staley on the euro:

Adding in this snippet from them on US equities, this in (very) brief. MS have 3 points on where we are at:

  • valuations are now more attractive
  • equity markets so oversold
  • rates potentially stabilizing below 3%

And conclude:

  • stocks appear to have begun another material bear market rally

What's next:

  • After that, we remain confident that lower prices are still ahead
  • close to 3,400
spx daily bars 17 May 2022