Wall Street’s top strategist warns ‘excessive’ government spending could be fueling a ‘boom-bust’ scenario in the stock market

Mike Wilson speaks during a Bloomberg Television interview in New York, U.S., on Tuesday, Aug. 22, 2017. (Credit: Christopher Goodney/Bloomberg via Getty Images)

U.S. stocks have skyrocketed since their dreary end to 2022—but Morgan Stanley’s Mike Wilson is convinced equities are in a “boom-bust” position.

Wilson, the company's chief U.S. equity strategist, told clients in a weekend note that while U.S. government spending had helped prop up markets and the economy, it could be setting equities up for problems further down the line.