The pandemic-induced collapse in demand has resulted in a huge fall in U.S. corporate profit margins, the firm said.
Worries over the wider impact of the trade war have intensified.
Deutsche Bank is scaling back in the U.S., leading to closures, moves and cutbacks in its locations.
It marks a retreat from years of trying to compete with Wall Street and putting a renewed focus on Europe.
The new MiFID II law will boost Europe’s ETF market, but one thing is still missing.
The fee is on top of the annual rate Morgan Stanley plans to charge some clients for basic access to its equity research portal.
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