World Economy

Citi: US Stocks Underweight

Citi: US Stocks UnderweightCiti: US Stocks Underweight

While Citigroup isn’t calling for a definitive end to the US bull market, it is telling clients that better opportunities can be found elsewhere, Bloomberg reported. A team of Citi analysts led by equity strategist Robert Buckland pointed to the end of easing by the Federal Reserve as a key reason for the bank’s downgrade of US equities.  Citi isn’t the only company to recently cut its outlook. On New Year’s Eve, RBC Capital Markets lowered its target for the Standard & Poor’s 500-stock index at the end of 2016 to 2,225, from 2,300. RBC was one of the first to release its 2016 prognostications, citing even lower oil prices and economic trends as reason for the cut.