Morgan Stanley Says Trade Can Bring Fed Back in the Picture

The transcript discusses the divergence between bond and equity markets, highlighting the improved tone in market sentiment due to reduced fears of Fed over-tightening and better US-China relations. However, concerns about slowing global growth and declining PMI remain. The discussion also covers how trade breakthroughs could influence Fed actions, noting the difficulty of balancing positive trade updates with Fed dynamics.

What fundamental issues are mentioned that affect global growth?

What impact do trade breakthroughs have on the Federal Reserve according to the speaker?