(Bloomberg) — Citigroup Inc. strategists cut their recommendation on US stocks to neutral on the risk of a recession, joining an increasing number of banks in warning of a growth slowdown.
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The market is showing “elements of a deflating bubble” with high uncertainty and the lack of reassurance from the Federal Reserve, strategists including Dirk Willer wrote in a May 27 note. “Given that it will likely take time for the Fed to react to equity and growth weakness,…
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