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# Deep Tide TechFlow News
On March 23, according to Golden Ten Data, strategists at Morgan Stanley stated in a report that they currently recommend maintaining a neutral stance on US Treasury bonds until the impact of the Middle East conflict on the economy and the Federal Reserve's interest rate path becomes clearer. They said: "We are inclined to maintain a neutral attitude toward US Treasury bonds before we have a clearer understanding of how the Iran conflict affects Federal Reserve policy and (equally importantly) fiscal policy." They also noted that speculation about more fiscal stimulus measures may explain why US Treasury bonds have not responded to risk-off sentiment as expected. They added: "Of course, a Federal Reserve that is not dovish is also not conducive to using US Treasury bonds to hedge against higher-risk assets."