Has The Current Market Cycle Peaked? Morgan Stanley Finds 'Unsynchronised' Data Tough To Read

“Rates and the curve have not tended to rise and steepen this ‘late’ in the cycle – we are in uncharted territory,” Sheets explains.
 

Are we there yet?
With the stock market sitting at all-time highs, many investors are worried that the U.S. may soon be reaching the peak in this economic cycle. According to Sheets, the U.S. has yet to reach the extremes associated with a market peak in terms of the macro environment, credit cycle and corporate aggression.

Morgan Stanley believes that these extremes must first be reached before the economy takes a downward turn.