Sell any stock rebound resulting from banking-system intervention, Morgan Stanley CIO says

• Sell bounces in the stock market as the impact of SVB's failure plays out, said Morgan Stanley. 
• The government's assurance to depositors eases contagion fears, but earnings are under pressure. 
• "We suggest selling any bounces  ... until we make new bear market lows, at a minimum," said CIO Mike Wilson. 

The US government's work to prevent widespread bank runs after Silicon Valley Bank's implosion may soothe the stock market, but Morgan Stanley suggests investors should sell bounces for the time being.