Morgan Stanley: Weekly Warm-up: Punxsutawney Phil Says 6 more Weeks of Winter. Stay Defensive
We continue to be more focused on what growth is going to do rather than rates and believe investors are still too optimistic, particularly as it relates to consumption. Exacerbating that risk is the fact that inventories are now rising rapidly. Maintain a Defensive Posture. Signs of weakness go beyond Omicron. 4Q earnings beat rates…...
