0531 GMT - Morgan Stanley strategists see value in U.S. Treasury duration but would wait until after the Federal Reserve's Oct. 28 interest-rate decision and the Nov. 3 midterm elections before adding to it, they say in a note. Ten-year yields still track the market-implied Fed path, and the recent rise in non-Fed risk premium doesn't yet justify a longer-duration stance, they say. "Midterm policy outcomes should matter little for Treasurys, but the vote's passing may change Iran's approach to the Strait of Hormuz and the energy trend."