Why Morgan Stanley thinks the recent trade-war breakthrough could lead overconfident traders into a late-2018-style market meltdown

Mike Wilson, Morgan Stanley's chief US equity strategist, says the recent US-China "trade truce" doesn't change the direction of the economy and could set the market up for failure.
Wilson argues that stocks are positioned for a repeat of December's steep sell-off. While stocks rallied on renewed hopes for an end to the trade war, Wilson said that the US economy was still losing strength and headed for a recession.
He added that the rally last week upended some of the market's recent leaders, an