MS CEO Gorman made a strong case for future revenues growth with a conservative balance sheet. Still there is tough competition, but MS should hit its 5 year goals. Buy on Stock and benchmark bonds. Counterparty risk is Medium. 

GS presents revised reporting, but all eyes are focused on upcoming investor day strategic plan unveiling. As 1MDB still lingers and casts a shadow on good news day. Maintain Buys on Stock and Bonds. Counterparty risk is Medium. 

We review the IMF global growth view for 2020. Further review the low birth rates in China and impact to growth. Hong Kong downgrade impacts. And more on Suriname's large oil discovery and sovereign risk effects.