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 28, 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. Global Thematics: With earnings trends still strong for many AI-related

thematic categories, the recent pullback creates a buying opportunity.

2. US Equity Strategy: Margin expectations are improving most for companies

where AI is material to the thesis and pricing power is neutral-to-strong.

3. US Rates & Equity Strategy: Equity indices suggest financial conditions are

easy, but our work suggests leveraged exposure to equities is growing.

4. US Software: Our new framework evaluates US Software companies on the

durability of their competitive position and their growth prospects in an AI-

native world.

5. Global Fixed Income Strategy: Central bank holdings of general

government debt have continued to decline.

6. US Credit Strategy: Investment Grade issuance is up strongly and has

broadened beyond high-quality hyperscalers to other AI-related megacaps.

7. China Economics: We estimate that China’s AI-driven capex cycle will add

around 0.2ppt to annual GDP growth in 2026–27.

8. Asia Economics: Asia ex-China is entering its strongest bank credit cycle in