Fiscal tightening is risk to stocks, warns Morgan Stanley strategist
Michael Wilson believes high fiscal spending is unsustainable.
Warning bells are ringing for U.S. stocks given signs that high fiscal spending, which underpinned economic growth this year, is unsustainable, according to Morgan Stanley’s Michael Wilson.
The strategist — one of the most bearish voices on Wall Street — said Fitch Ratings’ downgrade of U
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