Morgan Stanley Fixed-Global Credit Strategy Global Credit Research Webcast Slide...-107015062

MorganStanleyResearchGlobalMarch13,202411:23AMGMTMorganStanleyGlobalCreditWebcast:MarchMarch13,2024JennaGiannelli–USConsumer/RetailCreditResearchCreditAnalystMorganStanleydoesandseekstodobusinesswithcompaniesVishwasPatkar–HeadofUSCreditStrategyStrategistcoveredinMorganStanleyResearch.Asaresult,investorsMORGANSTANLEY&CO.LLCshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofMorganStanleyResearch.AronBecker–HeadofEuropeanCreditStrategyStrategistInvestorsshouldconsiderMorganStanleyResearchasonlyaAndrewSheets–GlobalHeadofCorporateCreditResearchStrategistsinglefactorinmakingtheirinvestmentdecision.MORGANSTANLEY&CO.INTERNATIONALPLC+Foranalystcertificationandotherimportantdisclosures,KelvinPang–HeadofAsiaCreditStrategyStrategistrefertotheDisclosureSection,locatedattheendofthisMORGANSTANLEYASIALIMITED+report.+=Analystsemployedbynon-U.S.affiliatesarenotregisteredwithFINRA,maynotbeassociatedpersonsofthememberandmaynotbesubjecttoFINRArestrictionsoncommunicationswithasubjectcompany,publicappearancesandtradingsecuritiesheldbyaresearchanalystaccount.AndrewSheetsHeadofCorporateCreditResearchRevisitingOurInflation/CentralBankPath•Wethinkpolicyisrestrictive:Slowergrowth,tightercreditandfallinginflationshouldgivetheFed/ECBconfidencethatpolicyissufficientlyrestrictive.Realpolicyratesstaypositi...