News summary

Newsletter text

[Investors hold a cash attitude towards U.S. stocksnlhe, market bullish space still exists]

Andrew Slimmon, senior portfolio manager at Morgan Stanley, disclosednlheAlthough the U.S. stock market has hit all-time highs, investors still maintain a preference for cash, indicating that there is room for further upside in the market.

Slimmon noted that the current market is still shrouded in fear due to low expectations for the stock market and a preference for a 5% to 6% yield in the bond market, which is usually a sign of the early stages of a bull market. He further pointed out that the pricing of many stocks currently appears to be very reasonable, and the dynamics of the money market are likely to provide support for further upward movements in the stock market.

In Slimmon's view, a large amount of unallocated cash has become a potential catalyst for the stock market to rise further. If the stock market continues to rise,"miss out fear"(FOMO) sentiment may be very significant, and its impact may even outweigh the stimulus brought by the decline in U.S. Treasury yields.