Morgan Stanley Weekly Warm-up: This Is Not QE; Focus on the Fundamentals

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With the back-stopping of bank deposits by the Fed/FDIC, many equity investors are asking if this is another form of QE and therefore “risk on.” We argue it’s not, and instead represents the beginning of the end of the bear market as falling credit availability squeezes growth out of the economy. This Is Not QE…Once again, bond and stock markets…

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