Morgan Stanley: “Rising consumer awareness of the environmental impact of the apparel industry is a potential game changer. ‘Peak Clothing’ takes center stage in 2020”

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Cash levels stayed at 4.2% for the third consecutive month, which is the lowest since March 2013. The allocation to global equities rose 1 percentage point to a net 32% overweight, the highest in 17 months. The allocation to commodities rose 4 percentage points to a net 10% overweight, which is the highest level since March 2012.

Cash levels stayed at 4.2% for the third consecutive month, which is the lowest since March 2013. The allocation to global equities rose 1 percentage point to a net 32% overweight, the highest in 17 months. The allocation to commodities rose 4 percentage points to a net 10% overweight, which is the highest level since March 2012.

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Here’s Ethan Harris and the BofA Merrill US Economics research team on the trade deal:

The more interesting part of the deal is China’s agreement to dramatically increase imports from the US. China is tasked with increasing agricultural, manufacturing, energy and services by more than 50% this year with another sharp increase in 2021. We rem…[Read more]