Joining us now to extend the conversation, I'm pleased to say, is David Kelly of Jp morgan Asset Management. David, I just want your initial reaction to the data we got about 10 minutes ago. Was that a surprise to you, sir.I'm not too much of a surprise. As we were going into this into this print, we were looking at a lot of the different industries. And there's a soggy miss in the economy, which is really preventing prices from going up.I mean, one of the things that I was struck by was that both airline f ...

M&T Bank (MTB) 2025 Conference June 11, 2025 07:30 AM ET Speaker0 Good morning, and welcome to day two of the sixteenth Annual Morgan Stanley US Financial Conference. I'm Manan Ghisalia, the mid cap banks analyst. We have M and T kicking off for us. I'll get our usual disclosure out of the way, which is for important disclosures. Please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. The taking of photographs and use of recording devices is not allowed. If you ha ...

The US – and the world – seems to have turned the page on tariffs. It now seems likely that total tariffs on US imports will settle between 14-17%: somewhere between 10-30% on China, 10% "reciprocal" tariffs on the rest of the world, and some sectoral tariffs (with exemptions). This is not a small rise relative to the start of the year. But it is a far cry from the situation just a week ago, when there was a virtual trade embargo between the world's two largest economies. It's time for investors to turn the ...