June 24, 2025 04:01 AM GMT M Idea From the Global Director of Research | North America Charts That Caught My Eye A guiding principle at Morgan Stanley Research is to enhance your investment process by delivering unique insights that separate the signal from the noise. An intuitively designed and well-crafted chart can often accomplish this with exceptional clarity. With that mission in mind, these charts in our recently published research stood out to me. Please reach out to me with feedback on these or any ...

Global Markets Strategy 20 June 2025 J P M O R G A N EM Money Trail 'Passive Surge, Active Purge' goes on EM equity inflows accelerated substantially to +$4.1bn from +$1.2bn last week. However, flows continue to be driven by large ETF subscriptions (+$5.0bn, +$2.0bn last week) while non-ETFs are still in the red (-$904mn, -$749mn last week). All regional funds were positive this week: GEM funds saw the highest inflows at +$2.4bn; Asia ex-Japan funds attracted +$1.4bn, up from +$843mn last week; LatAm inflow ...

June 20, 2025 11:35 AM GMT Cross-Asset Flows and Allocations Where Are Equity Flows Going? Demand for US equities is weakening to almost the sole benefit of European stocks. Section 899 concerns can sustain these trends, but we think the narrative of foreign investors deserting US stocks is overdone. Flows are not a zero-sum game; the US market should still see inflows, just less of them. Key Takeaways Exhibit 1: Net flows to ex US 'international' funds have increased dramatically since end-2024 -3 -2 -1 0 ...