Apart from the major indexes like the S&P 500, markets are behaving like it is late in the cycle, says Morgan Stanley strategist
February 17, 2020 at 09:54 AM EST
You would have a hard time convincing someone looking at the major U.S. stock-market benchmarks that it is looking like the end of the cycle. Yet Andrew Sheets, chief cross-asset strategist at Morgan Stanley, says there are late-cycle indicators in current markets.