Citi has revised its stock ratings:
- downgrading U.S. equities from “overweight” to “neutral” (Citi had been o’weight since October 2023, a good call)
- upgrading Chinese stocks to “overweight”
Citing ‘at least’ a pause in the ‘U.S. exceptionalism’ narrative.
- says U.S. growth momentum will trail behind other global regions
- U.S. stocks may regain their competitive edge once the narrative around artificial intelligence (AI) becomes dominant again
On China:
- strength of China’s tech industry, government support, and attractive valuations
- “DeepSeek” showcases China’s technological advancements
Info via a Bloomberg report (gated).
This article was written by Eamonn Sheridan at www.forexlive.com.
