Michael C Morrison, Vice President and Financial Advisor at Morgan Stanley

Inflation is the key to the secular bull market for stocks and secular bear market for bonds. The shift in policy from monetary to fiscal dominance is a significant change that may have big implications. Here's why:

Markets may already reflect the speed and scope of the recovery. Read more in On the Markets:

While there is near-term risk of a pullback, CIO Mike Wilson sees a 10% gain for the S&P 500 in 2021. See why in On the Markets:

MS & Co. CIO Mike Wilson believes we're in a new cyclical bull market in the context of a long-term secular bull market. Learn more:

We expect two major unknowns to be resolved soon: the election and the approval of a COVID-19 vaccine. Here’s what that means for markets:

MS & Co. CIO Mike Wilson notes that although the bull market appears intact, investor sentiment has remained remarkably skeptical. Learn more: