Core Insights - Morgan Stanley reported that its asset management scale reached $4.6 trillion in the third quarter, indicating a robust performance despite some signs of softening in the economy [1] - The overall U.S. economy remains resilient, although there are concerns regarding geopolitical complexities, tariffs, trade uncertainties, high asset prices, and potential inflation [1] - Increased client activity continues to benefit the company, with third-quarter FICC sales and trading revenue at $5.61 billion, surpassing market expectations of $5.33 billion [1] - Equity sales and trading revenue reached $3.33 billion, exceeding market forecasts of $3.04 billion [1] - The company expects full-year net interest income to be approximately $95.8 billion, slightly up from previous estimates of $95.5 billion [1]