Morgan Stanley Says It's Time To Take Profits Off Defensive Stocks

After Morgan Stanley was out with a call on this, recommending investors lock in their gains on defensive stocks.

We've actually heard this from some of our strategists here over the last couple of trading days and we did see a huge build up in some of these defensive pleas ahead of the fed's decision to cut. But Mike Wilson saying it's time to take profits off that recent out performance because like you said, Shaw, a lack of clarity about what the job market in the labor market data could look like if the data, you know, is horrible, that could be a boost for defensive could make it look like we're heading towards a recession.

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Morgan Stanley’s Wilson Says Take Profits on Defensive Stocks(Bloomberg) -- Investors should lock in gains on US defensive stocks as their recent outperformance has left valuations looking pricey, according to Morgan...
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