Citi downgrades European equities, cites 3 reasons. Upgrades its view on US equities.A note on Monday from Citi, downgraded its outlook on European equities to 'neutral' from 'overweight'. Simultaneously upgraded the more "growth-oriented" US.
Citi's key reasons for the Europe downgrade:
- heightened political risks;
- narrowing market leadership;
- and potential for a continued positioning unwind
More:
- "Our sector allocation is tilted towards growth ('overweights' in tech, industrials) and select defensives (healthcare)"
- Citi analysts say they remain constructive over the medium-term due to early-cycle macro dynamics in Europe and inflecting fundamentals.
Citi's note has spread across media outlets.
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Citi downgrades European equities, cites 3 reasons. Upgrades its view on US equities. (https://www.forexlive.com/news/citi-downgrades-european-equities-cites-3-reasons-upgrades-its-view-on-us-equities-20240617/)
forexlive.com