Morgan Stanley 4 月 17 日英文长篇，31页。这个主题应该也是进一个阶段热点中的热点了吧~
　　Fiscal expansion is near-term growth supportive，but it risks increasing pro-cyclical behavior.The benefits may be＂in the price＂& investors must account for greater potential market downside at end of cycle.This supports a rangebound path for equities & flatter UST curves with a lower yield bias.