Belief in 'American exceptionalism' among global investors has never been higher - Per Morgan Stanley Posted: Oct 9th, 2018 - 8:34 am
• Global investors are betting on America's economic success now more than ever, says Morgan Stanley Investment Management's Ruchir Sharma.
•"This year has been a story of how well America has done," he says.
Global investors are betting on America's economic success now more than ever, Morgan Stanley's Ruchir Sharma told CNBC on Monday.
"This year has been a story of how well America has done," he said on "Squawk Box," calling it an example of "American exceptionalism."
"We may or may not believe in [American exceptionalism], but the financial markets have never believed in it to such an extent," added Sharma, head of emerging markets and chief global strategist at Morgan Stanley Investment Management. The global firm has $474 billion in assets under management, as of June 30, 2018.
The strong economy has been touted by Trump administration officials such as top aide Larry Kudlow, who called it "the hottest economy in the world."
Second-quarter gross domestic product gained 4.2 percent, according to the government's final reading. And it appears the momentum has continued. The Atlanta Fed's GDPNow real-time indicator put the third-quarter growth at 4.1 percent, as of Monday.
Combine those figures with the first quarter's 2.2 percent gain, and the economy stands to grow at an average of 3.5 percent for the first nine months of 2018.
Sharma said that excellent economic performance is reflected in the "very richly valued" U.S. financial markets.
In fact, the stock market has doubled over the last decade, leaving a "huge gap" compared with international markets, particularly emerging ones, he added.
The S&P 500 is up 7.65 percent this year. Meanwhile, the iShares MSCI Emerging Markets ETF (EEM) dropped just over 13 percent in the same period.
However, the U.S. stock market hit a snag over the last three trading sessions, selling off after a jump in interest rates. That's led some prominent market watchers, like Wharton's Jeremy Siegel, to predict a difficult time for equities in the coming months.
LINK/URL: Morgan Stanley: Belief in 'American exceptionalism' among global investors has never been higher
Post A Reply Reply By Email Options
Complete Discussion Below: ( marks the location of current message within thread)
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER ALL KIND OF LOANS OFFER GUARANTEE FOR BUSINESS AND PERSONAL LOAN USE
- WHAT IS ALL THIS JUNK
- nVoq
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER ALL KIND OF LOANS OFFER GUARANTEE FOR BUSINESS AND PERSONAL LOAN
- EMERGENCY LOANS, URGENT BUSINESS AND PERSONAL LOAN FAST AND EASY
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Urgent Loan To Clear All Your Financial Debts Contact us
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- DO YOU NEED A PERSONAL LOAN / BUSINESS LOAN AT 3% INTEREST RATE? APPLY
- Bad Credit Loans, Business Loan, Debt Loan Support
- Business And Personal Loan, Opportunity
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Do You Need The Opportunity To Secure A Loan
- APPLY FOR URGENT LOAN, BUSINESS AND PERSONAL LOANS OFFER
- DO YOU NEED A URGENT LOAN BUSINESS LOAN TO SOLVE YOUR PROBLEM
- DO YOU NEED URGENT LOAN OFFER IF YES CONTACT US
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- WE OFFER URGENT PAYDAY LOAN TO INDIVIDUAL
- URGENT LOAN OFFER FOR BUSINESS AND PERSONAL USE
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Loans and Financial Assistance Offer Apply now
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- DO YOU NEED URGENT LOAN OFFER IF YES CONTACT US
- URGENT LOAN OFFER FOR BUSINESS AND PERSONAL USE
- Medical Transcription Editor
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Quick Financial Services business and personal loans Online with Direct Lenders
- DO YOU NEED AN URGENT LOAN TO SOLVE YOUR FINANCIAL NEEDS
- WE OFFER BUSINESS LOANS, PERSONAL LOANS, DEBT CONSOLIDATION
- Financial Services business and personal loans no collateral require
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- BUSINESS AND PERSONAL LOAN, QUICK LOAN, EASY LOAN, WITHIN 24 HRS
- WE OFFER ALL KINDS OF LOANS, APPLY FOR A QUICK LOAN
- WE OFFER ALL TYPES OF LOAN (BUSINESS LOAN, PERSONAL LOAN, CONSOLIDATION LOAN
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- FINANCIAL SERVICES BUSINESS CASH LOAN COMPAN GRANTED ME A BUSINESS LOANS
- Financial Services business and personal loans no collateral require
- FINANCIAL LOAN OFFER APPLY NOW
|