Citi cited concerns over economic growth:

  • Moving underweight equities as growth dims further
  • Economic growth indicators continue to decline
  • Hard-landing fears have set-off rising cross-asset volatility
  • Inflation moves back to long-term targets
  • Our model moves slightly short equities from max-long and overweight commodities (ex energy)
S&P 500 daily citi underweight 12 September 2024 2