Investing.com | Author Senad Karaahmetovic
Editor Hari G
Published Oct 06, 2023 07:56AM ET
Buy a dip in global stocks - Citi
Citi strategists have urged the bank’s clients to use the latest pullback in global equities and increase their exposure to this group of risk assets.
The strategists also made adjustments to the bank’s portfolio by reducing defensiveness and favoring cyclical stocks in the current economic landscape.
This shift comes as central bank interest rates reach high levels, the economy experiences a mild slowdown, and inflation gradually decelerates.
Key moves include:
Citi's Bear Market Checklist advises buying on dips and is currently showing 6 out of 18 red flags. In early February, the strategists accurately predicted that European stocks would continue to outperform their US counterparts.
“We continue to prefer Europe and EM over the US, as increased chances of a US soft landing should support Cyclical markets,” they said in a note.
Written By: Investing.com
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