Morgan Stanley Says US Shutdown Bad for IPO Market

January 24, 2019 Share Print 0

Morgan Stanley (MS.N) Chief Executive Officer James Gorman said on Thursday it would be extremely negative for the initial public offering market if the United States government shutdown goes on much longer.

“This is not the way the U.S. should be working,” Gorman said, speaking in a CNBC interview at Davos, adding, “I truly hope the leadership of both sides come to some way resolving what seems to be a relatively straightforward problem.”

Gorman became the latest Wall Street executive to call on Washington to end the shutdown by finding a middle ground on President Donald Trump’s demand for money to build a wall along the border shared with Mexico.

The shutdown has left 800,000 federal workers furloughed or working without pay, affected market sentiment and impacted companies seeking to list themselves in the U.S.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.