Morgan Stanley CEO: Full-blown US-China trade war unlikely

A full-blown US-China trade war would be bad for both the US and China, but looks unlikely, Morgan Stanley CEO reportedly said while speaking to Bloomberg. 

The investment bank chief added further that the treasury yield curve inversion is concerning. It is worth noting that sections of the yield curve have inverted over the last few months, however, the standard metric – the spread between the 10-year and 2-year US government bond yield – is still positive. 

Key quote

Yield curve inversion is concerning. 

Sees more downside in equities.