大摩：流动性紧缩是美股面临的主要威胁

Odaily Odaily reports that Morgan Stanley's Chief Investment Officer and Chief U.S. Equity Strategist Mike Wilson stated that liquidity, rather than interest rate hikes, is the main risk facing the U.S. stock market in the near term. He noted that the size of the Reserve Management Plan has declined by about 75% from its peak, and the scale of Treasury buybacks has also shrunk by 50%. Wilson expects U.S. stock market trends in July to be volatile and could see a pullback, with the next leg of a profit-driven bull market being delayed until after liquidity headwinds clear. (Jin10)