Morgan Stanley has upgraded its ratings on US stocks and Treasuries from Neutral to Overweight on expectations that the Fed will trim interest rates to support bonds and corporate earnings. The broker predicted that the S&P 500 would climb to 6,500 in 2Q26.Meanwhile, the USD is expected to remain on a downtrend as the US economic growth advantage over other countries continues to diminish, said Morgan Stanley.Related NewsCore PPI YoY for Apr in United States is 3.1%, lower than the previous value of 4.0%. The forecast was 3.1%.