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| Subject: 'Ridiculous': Bank boss slams George Soros' warning of a new GFC Thu May 31, 2018 7:51 pm | |
| Morgan Stanley Chief Executive Officer James Gorman said that investor George Soros's contention another major global crisis may be in store is unrealistic, and that the Federal Reserve will probably hike interest rates three more times in 2018 despite recent volatility.
"Honestly I think that's ridiculous," Gorman said in an interview with Bloomberg Television in Beijing on Thursday when asked about Soros's comments this week, which included a warning that the European Union is at risk of breaking up amid Italy's challenges.
"I don't think we're facing an existential threat at all," Gorman said of the EU.
Investors should look through the bout of turmoil markets have been going through lately, with fears about Italian contagion seeing US Treasury yields tumble from their recent highs of well over 3 per cent, Gorman said. Benchmark 10-year US yields are likely to keep climbing, taking the dollar up with them, in the Morgan Stanley chief's view.
https://www.smh.com.au/business/markets/ridiculous-bank-boss-slams-george-soros-warning-of-a-new-gfc-20180531-p4ziql.html |
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