Morgan Stanley warns of potential bear market collapse due to bank turmoil.

Morgan Stanley's chief US equity strategist, Michael Wilson, has warned that turmoil within the banking sector could bring a "vicious" start to the end of the bear market in US stocks. Wilson suggested that stocks are still not worth the risk, particularly when investors can turn to safer assets like Treasurys and other bonds. Until the equity risk premium climbs as high as 250 basis points, the S&P 500 will remain unattractive. The ERP is currently at 230 basis points.