Morgan Stanley's Serena Tang Backs US Stocks Over Core Bonds, Keeps S&P 500 8,300 Goal

On May 20, 2026, Morgan Stanley chief cross-asset strategist Serena Tang said the bank is staying constructive on risk assets through the rest of 2026 despite rising geopolitical, energy-price and credit-market uncertainty. She pointed to expectations for resilient US growth and earnings, plus an AI-driven capex cycle, while reiterating an S&P 500 mid-2027 target of 8,300 and a preference for equities over core fixed income.