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  "authorName": "Morgan Stanley",
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  "notes": "The slide uses a two-column layout to present four distinct investment themes.",
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      "text": "The views and opinions expressed are those of the Portfolio Solutions Group at the time of writing of this presentation and are subject to change at any time due to market, economic, or other conditions, and may not necessarily come to pass. Not to be construed as an investment or research recommendation.",
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      "text": "Rebalancing Equity Exposure: The new deals. We see the trade deal struck between the U.S. and U.K. as the first domino to fall in other successive deals with allied trading partners.",
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      "text": "Considering U.S. Loans Exposure: Managing duration risk. With recession risks receding, we prefer bank loans over traditional U.S. HY, and the floating rate nature of loans.",
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      "text": "Adding European High Yield (HY): Good for both U.S. and European investors. The reduction in global growth risks from the recent trade deals should also reduce default risks.",
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      "text": "Overweight Indian Equities: Downcycle bottoming. India has suffered from two quarters of a self-inflicted economic slowdown and corporate earnings downgrade cycle.",
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      "text": "The Portfolio Solutions Group – Our Top 4 Ideas",
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