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Morgan Stanley's Slimmon names 'attractively priced' stocks to beat the economic uncertainty

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'The U.S. economy is not rolling over,' says the senior portfolio manager, who expects a slowdown will happen later than many have predicted.

Morgan Stanley's Andrew Slimmon expects an economic slowdown in the U.S. will happen later than many have predicted. "I am convinced what is holding the economy up is that the U.S. consumer still has $1.1 trillion of excess savings that's excessive [compared] to above pre Covid," he told CNBC's " Street Signs Asia " on Wednesday. "That's why the U.S. economy is not rolling over." "It's just hard to know when that will be fully spent.

Regional banks? Not so fast Slimmon said while regional banks have been oversold following the Silicon Valley Bank crisis — and are due for a bounce — he's still negative on investing in such stocks. "One of the reasons why I'm more concerned is because I think there will be tighter regulations on them head hedging their interest rate, duration exposure. Look, there's a lot of finger pointing going on right now.

 

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