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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic growth and security risks historically coincide, says Steven WietingSteven Wieting, Chief Investment Strategist and Chief Economist at Citi Global Wealth Investments, discusses the stock sell-off and rising geopolitical risks.
Persons: Steven Wieting Steven Wieting Organizations: Investment, Citi Global Wealth Investments
2023 wasn't a good year for the health-care sector, but some investors expect it to make a comeback this year — highlighting biotech and medical tech as areas to watch. But now, Citi believes that "astute investors may find themselves with a trove of rebound opportunities." Citi's top picks in biotech include Biomea Fusion , Alnylam Pharmaceuticals , and Immunovant . Jared Holz, health-care sector strategist at Mizuho Securities Americas, named biotech firm Biogen as one of his top trading ideas for 2024. "Biotech has commanded everyone's attention, but the recovery of many best-in-class medical device companies post the GLP-1 selloff has been remarkable," Orton said.
Persons: There's, Jared Holz, Biogen, Trent, medtech, Matt Orton, Orton Organizations: Citi Global Wealth Investments, U.S . Healthcare, Citi, Biomea, Alnylam Pharmaceuticals, Mizuho Securities Americas, Biogen, medtech, Raymond James Investment Management, Medical, Biotech, Abbott Laboratories Locations: U.S, Alphinity, medtech
The bullish view Just four of the 15 strategists expect the S & P 500 to end the year higher than current levels, albeit very slightly. He expects the S & P 500 to end the year at 4,500 — up 2.3% from its current level. Instead, Peng said the S & P 500 's performance will likely broaden over the second half of this year. She expects the S & P 500 to remain flat by the end of the year at 4,300. UBS expects the S & P 500 to end the year at 4,100 — a drop of 7% from current levels.
Persons: Stocks, BlackRock Karim Chedid, Jerome Powell, Karim Chedid, Chedid, Chadha, Charles Schwab Liz Ann Sonders, Ken Peng, Peng, Savita Subramanian, Andreas Bruckner, Liz Ann Sonders, Charles Schwab, Matt Rowe, Mark Haefele, Christian Abuide, Sameer Samana, Rowe, Wouter Sturkenboom, Sturkenboom Organizations: CNBC Pro, Investment, iShares EMEA, BlackRock, Reserve, Deutsche Bank, Citi Global Wealth Investments, Big Tech, Bank of, Equity, Nomura, UBS Global Wealth Management, Federal Reserve, UBS, Lombard, RBC Wealth Management, U.S, Global Market, Wells, Wells Fargo Investment, Nomura Private Capital, EMEA, APAC, Northern Trust, Wells Fargo Investment Institute Locations: U.S, Asia, Europe, Wells Fargo, Northern, Samana
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. debt ceiling setback: We really need to crack on and get this done quickly, says CitiRoger Bacon of Citi Global Wealth Investments says "the market is already a little bit schizophrenic because of what's going on with rates … so having this additional complication on top is [something that] we could do without."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonetary policy tightening works through banking channels, not just financial markets, says Citi's WietingBruce Kasman, chief economist at JPMorgan; Steven Wieting, chief investment strategist at Citi Global Wealth Investments; and Margaret Patel, senior portfolio manager at Allspring Global Investments, join 'The Exchange' to discuss global market action, consequences of the Fed's aggressive rate approach and anticipated changes to lending policies.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPMorgan's Bruce Kasman, Citi's Steven Wieting, and Allspring's Margaret PatelBruce Kasman, chief economist at JPMorgan, Steven Wieting, chief investment strategist at Citi Global Wealth Investments, and Margaret Patel, senior portfolio manager at Allspring Global Investments, join 'The Exchange' to discuss global market action, consequences of the Fed's aggressive rate approach and anticipated changes to lending policies.
Bonds also rose, mirroring hopes of a softer inflation report, and the U.S. dollar was near seven-month lows against a basket of currencies. Europe's STOXX 600 (.STOXX) equity benchmark index rose 0.6% to its highest since April 2022. Roberto Lottici, portfolio manager at Banca Ifigest, said he was concerned markets could potentially even react negatively to any big downside surprise in the U.S. CPI data. Foreign exchange markets elsewhere were quieter ahead of the U.S. CPI data while China's reopening kept a bid under Asia's currencies. The dollar index eased 0.1% to 103.06, not far from a seven-month low of 102.93 hit this week.
Stocks becalmed before potential CPI storm
  + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com   time to read: +4 min
European futures rose 0.4%. Bonds held overnight gains and the U.S. dollar was pinned near a seven-month low at $1.0769 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. U.S. Treasuries added a little to overnight gains, with benchmark 10-year yields down 3.7 bps to 3.5189% and 30-year yields down 4.4 bps to 3.6375%. Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.
Asia stocks hit 7-month high on China and CPI bets
  + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com   time to read: +4 min
Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% and touched an almost seven-month high. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. "We expect a below consensus CPI print, which if it materialises, could push this rally even further." Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.
Shifts in tones at big banks suggest they are warming up to Chinese equities, especially as the strong returns so far and the fear of missing out on more gains start to apply pressure. "This is still a long path and we remain very bullish on Chinese equities ...and also the currency," he said. "When the market goes up, naturally that will attract international investors to look at China again," said Nicholas Yeo, head of China equities at abrdn. Foreign investors bought a net 41 billion yuan ($6.06 billion) of China stocks via the China-Hong Kong Stock Connect Scheme so far this year, compared with 90 billion yuan of China stocks bought in all of 2022. They bought a net 35 billion yuan of China stocks in December.
The U.S. economy could recover in 2024, Citi says
  + stars: | 2023-01-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. economy could recover in 2024, Citi saysSteven Wieting of Citi Global Wealth Investments says a recession "can be short and shallow."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWieting: There is an immense short base in the equity, fixed income, and currency marketsSteven Wieting, Chief Investment Strategist and Chief Economist at Citi Global Wealth Investments, joins Worldwide Exchange to discuss his expectations for the CPI print, markets, and inflation.
The latest threat to stocks now isn't any macro risk — it's rising 2-year Treasury yields, according to some fund managers and strategists. Short-term, relatively risk-free Treasury bonds and funds are back in the spotlight as the yield on the 2-year Treasury continues to surge. Meanwhile, U.S.-listed short-term Treasury ETFs have attracted $7 billion of inflows so far in September — six times the volume of inflows last month, BlackRock said. Here's what analysts say about how to allocate your portfolio right now. This sees investors put 60% of their portfolio in stocks, and 40% bonds.
Here are 3 things you should do right now in this market
  + stars: | 2022-09-21 | by ( ) edition.cnn.com   time to read: 1 min
It's no secret the market is in turmoil right now with some fearing equities are headed for new lows. David Bailin, chief investment officer at Citi Global Wealth Investments, gives three pieces of advice for smart investors.
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