Morgan Stanley thinks everyone else is too bullish on the world

Morgan Stanley analysts are more bearish on the global economy than everyone else. 
"We expect global growth to be below consensus estimates in 2H16 and 2017," the firm's Chetan Ahya wrote in the Global Macro Summer Outlook published on Sunday.
They estimate a slowdown to 2.9% annual growth in 2016, worse than the consensus call for 3.1%. Their call for an improvement to 3.2% next year is not as high as the 3.6% pace others estimate. 
Global growth would continue to be sluggi