"We are finding bonds to buy in Spain, Portugal and Italy," says Caron. "But we are not chasing Greece. At least not yet."
The move comes after both Bank of America/Merrill Lynch and Morgan Stanley announced efforts to move away from the practice.
Is this economy about to roar, or go off the rails? Jim Cramer sorts out both sides of the argument.
Morgan Stanley currently has 15,000 brokers.