Citi Cuts Tech-Heavy U.S. Stocks on Treasury Yield Surge Call

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Citi Cuts Tech-Heavy U.S. Stocks on Treasury Yield Surge Call

Bloomberg2021-08-04

Growth recovery will fuel rise in Treasury yields to 2%: Citi. Strategists cut U.S. stocks, prefer Japan and U.K. markets. U.S. stock market returns may suffer as economic recovery and possible ...

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Waterbottle
·2021-08-04
Hi
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MervKJ
·2021-08-04
Nice
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- Waterbottle:
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  2021-08-04
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Norman911
·2021-08-04
hi
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- Norman911:
  hihi
  2021-08-04
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jingabel
·2021-08-04
Ok
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Felixt
·2021-08-04
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- carceng:
  Wow
  2021-08-04
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The strategists expect the two factors to cancel each other out over the next 12 months, predicting flat returns for the MSCI World Index by mid-2022.\nCiti upgraded Japanese equities to overweight, citing cheap valuations and sensitivity to global cyclical recovery. It also kept U.K. stocks at overweight thanks to their positive correlation to higher bond yields. Among equity sectors, financials and materials will benefit from a rise in borrowing costs, the strategists say.\nAccording to a Bloomberg survey of forecasters, the 10-year Treasury rate will rise to about 1.8% by the end of 2021. 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