Morgan Stanley Fixed-Morgan Stanley Global Macro Forum The Return of MA-106975376

MorganStanleyResearchGlobalMarch11,202410:39AMGMTMorganStanleyGlobalMacroForumMorganStanleydoesandseekstodobusinesswithcompaniescoveredinMorganStanleyResearch.Asaresult,investorsTheReturnofM&AshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofMorganStanleyResearch.March11,2024InvestorsshouldconsiderMorganStanleyResearchasonlyasinglefactorinmakingtheirinvestmentdecision.RyanKenny–USMidcapAdvisors&LargeCapBanksResearchEquityAnalystMichelleWeaver–USThematicStrategistEquityStrategistForanalystcertificationandotherimportantdisclosures,MichaelCyprys–HeadofUSBrokers,AssetManagers&ExchangesResearchEquityAnalystrefertotheDisclosureSection,locatedattheendofthisMORGANSTANLEY&CO.LLCreport.AndrewSheets–GlobalHeadofCorporateCreditResearchStrategist+=Analystsemployedbynon-U.S.affiliatesarenotregisteredwithMarinaZavolock–ChiefEuropeanEquityStrategistEquityStrategistFINRA,maynotbeassociatedpersonsofthememberandmaynotbeMORGANSTANLEY&CO.INTERNATIONALPLC+subjecttoFINRArestrictionsoncommunicationswithasubjectcompany,publicappearancesandtradingsecuritiesheldbyaresearchanalystDanielBlake–AsiaandEMEquityStrategistEquityStrategistaccount.MORGANSTANLEYASIA(SINGAPORE)PTE.+AndrewSheetsGlobalHeadofCorporateCreditResearchCyclicalandSecularThisisastoryofexpectingasharpnear-termreboundinM&A(+50%versus2023...