Morgan Stanley-From the Global Director of Research Charts That Caught My ...-107462789

MApril9,202404:01AMGMTMorganStanley&Co.LLCUpdateFromtheGlobalDirectorofResearchNorthKatyL.Huberty,CFA+1212761-6249AmericaGlobalDirectorofResearchChartsThatCaughtMyEyeKathryn.Huberty@morganstanley.comAguidingprincipleatMorganStanleyResearchistoenhanceMorganStanleyResearchyourinvestmentprocessbydeliveringuniqueinsightsthatseparatethesignalfromthenoise.AnintuitivelydesignedandAnalystwell-craftedchartcanoftenaccomplishthiswithexceptionalerteam@morganstanley.comclarity.Withthatmissioninmind,thesechartsinourrecentlypublishedresearchstoodouttome.1.PoweringGenAI:Third-partydatareinforcesourprojectionthattherewillremainawidedifferentialbetweenGenAIpowerdemandgrowthandpowergridgrowth.2.EuropeAssetManagers:Wethinkimprovingdealactivityissettore-acceleratetheprivate-marketsflywheel,andhelpdrivea15-30%EPSCAGRforEuropeanAltsthrough2026.3.EuropeBanks:Weremainbullishonatop-downbasis,asearningsrevisionsandvaluationaresupportive.4.Block:WedowngradeSQtoUW;webelievetheStreetoverestimatesCashApp'sandSquareSeller'sgrowthrunway.5.USEquityStrategy:Wecontinuetoviewa10-yearUSTreasuryyieldof~4.35%asanimportanttechnicalleveltowatch.6.USFreightTransport:Ourproprietarysurveyofshipperspointstopotentialgreenshootsofanincipientcycleinflection.7.JapanEquityStrategy:Flowsdatasuggestthenation'sindividualinvestorshaveagrowingappetiteforowningdome...