Market videos

Morgan Stanley Investment Management’s Andrew Slimmon attributes equity valuation pressure to higher interest rates, despite what he describes as good earnings. He says the pace of Federal Reserve tightening will determine whether multiples stabilize or fall further. His conditional outlook includes 430 of earnings next year and closer to 500 in 2028, while he expects the market to finish the year higher. He describes a shift toward larger, cash-generating companies with less reliance on debt. The interview contains no explicit trade proposal or earlier-trade update.