Morgan Stanley says U.S. market breadth is deteriorating, and Treasury volatility may determine the subsequent direction
A Morgan Stanley report said that among Russell 3000 constituents, 51%have fallen more than June from their high, sending market breadth to its lowest level since the bursting of the internet bubble. The report said that if Treasury volatility remains elevated, the S&P 20%could pull back by approximately 500 over the next 1 months 6%。