Morgan Stanley Cries Wolf on ‘June Gloom’ Economy Outlook

By CCN Markets:  Morgan Stanley economist Ellen Zentner told clients today that June may be a rough month in the economy, going so far as to suggest “June Gloom” is looming. This comes on top of a similar warning two weeks ago from the very same Wall Street firm. The latest research note reportedly states: “The decline shows a sharp deterioration in sentiment this month that was broad-based across sectors.” Zentner is often solid on many things. On the most recent note, however, she’s off base. Morgan Stanley is relying on its proprietary Business Conditions Index (BCI), which reflects pivotal moments

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