Citi says no longer bearish on risk assets

Author: Eamonn Sheridan | Category: News

From a Citi analysts client note - the bank has switched from bearish to neutral

Says markets seem to be less troubled about the rising number COVID-19 cases, due to:
  • falling hospital and fatality trends
  • better targeted economic restrictions
  • medical breakthroughs are possible
Now look to buy dips in US equites (S&P500), look for higher ahead of earnings season
  • USD bias probably now negative
  • could be EUR/USD upside (Citi cite the EU recovery fund, less threat from the German court ruling on BUBA bond buying)
via Bloomberg 

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