"Dollar Regime Shift Poses Risk to US Stocks, Warns Morgan Stanley"
Morgan Stanley's chief investment officer warns that the structural forces affecting the US dollar could impact US equities, as deteriorating US-China relations, the end of yield curve management in Japan, and rising Bitcoin and commodity prices suggest the dollar's strength may be reaching its limit. The potential shift in the dollar regime could impact US stocks through earnings multiples, prompting investors to consider diversifying globally for future stock returns.