Charts That Caught My Eye: From the Global Director of Research | North America

Research evidence excerpt

Charts That Caught My Eye: From the Global Director of Research | North America

Idea

July 21, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMFrom the Global Director of Research | North Katy L. Huberty, CFA

America Global Director of Research

Kathryn.Huberty@morganstanley.com +1 212 761-6249

Morgan Stanley Research

AnalystCharts That Caught My Eye erteam@morganstanley.com

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.

1. Tech Diffusion – AI and US Mortgages: Wider AI adoption could remove

frictions and potentially add hundreds of billions to refi volumes.

2. Technology: Our 2Q26 AlphaWise survey of CIOs points to a healthier 2026

spending backdrop; AI/ML remains CIOs' top priority.

3. US Equity Strategy: “High Capex-to-Sales” has begun to underperform, but

Hyperscalers’ shares were early in discounting this effect.

4. Hyperscalers Credit: Hyperscaler spreads have underperformed YTD and

now trade wider than the IG index.

5. Global eCommerce: Contrary to consensus, we believe scaled eCommerce

platforms are positioned to control much of the agentic journey.

6. Multipolar World – US Nearshoring: IT hardware assembly in Mexico offers

value-add intensity comparable to that of Mexico's autos sector.

7. Europe Autos Credit: The sector's spreads are tighter than we believe is

warranted by the deterioration in credit fundamentals.

8. US Sports Assets: We expect continued long-term appreciation in team

values; we are OW MSGS.