Both Morgan Stanley’s Michael J Wilson and Goldman’s David J Kostin expect corporate profit margins to contract next year given unrelenting cost pressures, they wrote in separate notes. According to Wilson, “the best part of the rally is over.”
China’s overnight and seven-day repo rates surged in February, while bond investors took losses from a sharp rise in yields. Banking liquidity in India suffered
Benchmarks in Japan and South Korea declined, dragging a gauge of Asian equities lower. Futures contracts for the S&P 500 declined as much as 1.1%
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