Morgan Stanley's Skelly Sees Market Downside Limit at 5%-10%
Daniel Skelly, head of market research and strategy at Morgan Stanley Wealth Management, predicts the lack of a US recession will act to limit to the recent decline in equity markets. "There's probably a volatile summer ahead of us but we still don't see an economic contraction. And with that you're probably going to be limited to maybe 5%-10% further downside," he says on “Bloomberg The Open.” (Source: Bloomberg)