[Morgan Stanley Maintains Neutral Stance on U.S. Treasuries] Deep Tide TechFlow reports that on March 23, according to Jin10 Data, Morgan Stanley strategists stated in a report that they currently recommend maintaining a neutral strategy on U.S. Treasuries until the impact of the Middle East conflict on the economy and the Federal Reserve's interest rate path becomes clearer. They said: 'We prefer to maintain a neutral stance on U.S. Treasuries until we have a clearer understanding of the implications of the Iran conflict on Federal Reserve policy and (equally importantly) fiscal policy.' They also noted that speculation about additional fiscal stimulus measures might explain why U.S. Treasuries have not responded to risk-off sentiment as expected. They added: 'Of course, a non-dovish Federal Reserve also makes it less favorable to use U.S. Treasuries as a hedge against higher-risk assets.'