downgrading U.S. equities from "overweight" to "neutral" (Citi had been o'weight since October 2023, a good call)upgrading Chinese stocks to "overweight"
Citing 'at least' a pause in the 'U.S. exceptionalism' narrative.
says U.S. growth momentum will trail behind other global regionsU.S. stocks may regain their competitive edge once the narrative around artificial intelligence (AI) becomes dominant againstrength of China's tech industry, government support, and attractive valuations"DeepSeek" showcases China's technological advancements
Info via a Bloomberg report (gated).
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