FILE PHOTO: A woman walks past a Citibank logo displayed outside the Citibank Plaza in Hong Kong July 28, 2014. Picture taken July 28, 2014. REUTERS/Bobby Yip
SINGAPORE - World stocks will probably tread water for a year, according to Citi strategists, who recommend a more defensive portfolio in the face of the fallout from the coronavirus pandemic. Citi equity strategists are recommending clients play it safe by holding U.S. stocks and healthcare shares and reducing exposure to bank shares, as earnings are likely to take a while to recover from the coronavirus fallout.
“The bullish push from $6 trillion of global quantitative easing is likely to cancel out the bearish drag from the ongoing lockdown,” the investment bank’s equity strategists said in a note published late on Sunday. Restrictive measures imposed to contain the virus has ravaged economic activity and hurt demand for risky assets in recent months, but their impact has been offset somewhat by huge asset buying from central banks, which has supported confidence.The note forecasts the S&P 500
1yr is optimistic vision...
That’s a stupid position to have. Get a new broker.
this almost guarantees that stocks won't go sideways for a year...