摩根士丹利策略师表示，近期这轮滚动式回调更接近尾声而非开端，并对未来6至12个月美国股市仍然持有建设性看法。
以Mike Wilson为首的团队在报告中称，受益于企业盈利增速重新加快以及持续的扩大，美股前景仍看起来不错。
不过，随着油价波动与美元走强，股市短期波动性可能仍将持续。
得益于美国规模温和的能源盈余，美股表现优于海外市场。策略师预计，即便在原油价格下跌的乐观情景下，这一现象仍有望延续。
他们写道：“我们的基准判断仍是，短期进一步走弱将为加仓周期性交易提供机会”。
从仓位与估值角度看，周期板块当前没有那么过头，且基本面的利好仍在。
在周期板块内部，他们偏好金融、工业、可选消费与小盘股。
在防御性对冲方面，团队更青睐医疗保健以及优质股。
责任编辑：刘明亮
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