[Morgan Stanley is bearish on some emerging market bonds, and the Fed's rate cut is unlikely to stimulate capital inflows] According to Golden Finance, Morgan Stanley's view on some emerging market sovereign bonds has turned cautious, and the bank believes that the Fed's rate cut is unlikely to stimulate a large influx of funds into bond funds. Strategist Simon Waever and others recommend that investors be bearish on this asset class in the short term, increase the level of cash in their portfolios, focus on investment-grade bonds rather than riskier bonds, or sell emerging market credit default swap indices. According to a report published on Monday, the bank excluded Nigerian, Argentine and Moroccan bonds from a basket of preferred bonds and included Mexican and Romanian bonds that have become "cheaper." Its forecast is partly influenced by the fact that the U.S. interest rate market is already digesting expectations of a soft landing for the economy. "A further decline in U.S. Treasury yields may be detrimental to risk appetite," they said. "It will take up to 12 months for funds to shift from money market funds to risky assets after the first rate cut."