Outlook Darkens on Morgan Stanley’s Q1 Earnings

" Morgan Stanley’s (MS: 24.42 +7.62%) first quarter earnings are expected to be negatively effected by the recent rebound in its bond prices, according to a report by the Wall Street Journal Thursday. The Journal’s sources told the pub that an “accounting treatment” used on certain bonds issued before the financial crisis escalated would cause the firm to take a hit anywhere from $1.2 billion to $1.7 billion on its quarterly earnings, which are due out later this month."