Core Viewpoint - The ongoing U.S.-EU tensions over Greenland may negatively impact Big Tech stocks, with Wall Street showing readiness to sell stocks amid uncertainty [1][6]. Group 1: Market Reactions - Citigroup has downgraded European equities for the first time in a year, citing potential earnings fallout from the U.S.-EU spat [2]. - Morgan Stanley's chief U.S. equity strategist, Mike Wilson, anticipates a contained direct cost impact on major U.S. indices from new tariff threats, but smaller sectors like autos and healthcare are at higher risk [3][4]. Group 2: Potential Risks - Wilson expresses concern that the EU may activate its 'anti-coercion' tool, which could significantly impact U.S. mega-cap companies, particularly in the tech sector [4][7]. - The Anti-Coercion Instrument could lead to a range of policy tools beyond tariffs, including investment restrictions and taxation on U.S. digital services [5]. Group 3: Market Sentiment - Nasdaq-100 futures are reflecting concerns about potential losses for Big Tech, especially with earnings reports approaching [6]. - Analysts suggest that a market slump could occur if U.S.-Europe tensions escalate beyond tariffs to more severe confrontations, such as limiting market access for Big Tech [7].

Group 1 - Citigroup has raised the target stock price for Seagate Technology from $320 to $385 [1]

Group 1 - Citigroup raised the target price for Western Digital from $200 to $280 [1]

Group 1 - Citigroup has lowered the target price for Dell Technologies from $175 to $165 [1]

格隆汇1月20日｜花旗集团将苹果公司目标股价从330美元下调至315美元。 ...

Group 1 - Citigroup predicts a bullish scenario where gold could reach $5,000 within three months, with a potential test of $4,700-$4,750 this week due to trade tensions from Trump's tariff policies and a surge in investments into gold ETFs for hedging, leading to localized shortages in physical gold [1] - JPMorgan anticipates a strong market this week with a target of $4,750, and if stabilized, a push towards $5,000 next month, driven by a 26% probability of a Fed rate cut in March, declining 10-year Treasury yields, and an average monthly gold purchase of 70 tons by emerging market central banks, providing a "safety cushion" for gold prices [1] - Goldman Sachs expects a potential pullback this week with a buying range of $4,600-$4,650, maintaining a year-end target of $4,900, while expressing concerns over profit-taking by hedge funds that may lead to increased short-term volatility despite a long-term bullish outlook [1] Group 2 - Morgan Stanley adopts a conservative stance, projecting a trading range of $4,620-$4,690 this week, emphasizing that central bank gold purchases provide strong support, and highlighting the acceleration of de-dollarization in emerging markets, suggesting that buying gold is not merely for hedging but a strategic move against dollar dominance, with this trend expected to continue at least until Q3 [1] - Current data indicates that while U.S. employment and inflation are slowing, some sectors are improving under the potential influence of Fed rate cuts, leading to a cautious but optimistic outlook for gold prices in the medium to long term, supported by increased allocations from institutional investors amid rising geopolitical risks [3] - The market is likely to be influenced more by U.S. economic data affecting Fed policy expectations and geopolitical disturbances, with a general view that short-term news impact is diminishing, maintaining a strong oscillating trend for gold prices, while suggesting holding long positions above the 20-day moving average and selling out-of-the-money put options to capture time value [3]

责任编辑：栎树 美股频道更多独家策划、专家专栏，免费查阅>> 1月20日，花旗集团一年多来首次下调了欧洲股票评级，理由是美国总统特朗普试图吞并格陵兰岛，导 致布鲁塞尔和华盛顿之间的关系恶化。包括Beata Manthey在内的策略师写道：跨大西洋紧张局势的最 新升级和关税不确定性削弱了欧洲股票的近期投资前景，并损害了欧洲大陆公司的盈利前景。他们将除 英国以外的欧洲市场在全球资产配置中的评级下调至"中性"，理由是近期投资前景疲软。 与此同时，花旗集团将日本股票的评级从"中性"上调至"超配"。过去一年表现优于美国股市的欧洲股市 周一大幅下挫，因特朗普宣布对支持格陵兰岛的国家加征新关税。欧盟正在考虑对价值1080亿美元的美 国商品加征关税，以及其他可能的报复措施。 ...

本文源自：金融界AI电报 花旗发表研报指，澳门1月首18日的总博彩收入达129.5亿澳门元，即上周日均收入约为7亿澳门元，较1 月5日当周的日均收入高约1%，并较去年1月的日均收入增长约19%。日均收入的韧性，与该行进行的 实地调查结果相符，显示内地富裕消费者对澳门的博彩及非博彩项目仍保持消费意欲。该行维持对2026 年1月博彩总收入215亿澳门元的预测不变，即按年增长18%；1月至2月的合计博彩总收入预测亦维持于 420亿澳门元，意味按年增长10.5%。 ...

Core Viewpoint - Citigroup's Japan market head Akira Hoshino warns that if the yen remains weak, the Bank of Japan may raise interest rates three times by 2026, potentially doubling the current policy rate [1] Group 1: Monetary Policy Outlook - Hoshino suggests that if the USD/JPY exchange rate exceeds 160, the Bank of Japan may increase the uncollateralized overnight call rate by 25 basis points to 1% in April [1] - He anticipates a similar rate hike in July and possibly a third increase by the end of the year if the yen continues to weaken [1] - The current negative real interest rates are driving the yen's weakness, and addressing this issue is crucial for reversing the exchange rate trend [1] Group 2: Economic and Market Conditions - Hoshino expects the yen to fluctuate between 150 and 165 against the dollar this year, with the current rate at 158.2, having reached an 18-month low of 159.45 [2] - If key rates like the 10-year government bond yield exceed inflation rates, Japanese institutions may consider reallocating overseas investments back to domestic fixed-income assets [2] - The lack of sufficient investment options in Japan is a key reason for the persistent weakness of the yen [2] Group 3: Strategic Initiatives - Hoshino aims to enhance collaboration between the trading team and investment banking to capitalize on the opportunities created by the M&A boom in Japan [2] - He plans to involve team members in early client discussions to provide optimal financing solutions during transactions [2] - The goal is to optimize supply-demand matching from the initial stages of transactions to offer the most effective financing solutions to clients [2]

花旗银行周二将欧洲大陆股票评级下调至"中性"，为一年多来首次。该行称，最新一轮跨大西洋紧张局 势升级和关税的不确定性削弱了短期内投资欧洲股市的理由。美国总统特朗普上周末威胁，将对八个欧 洲国家加征额外关税，直到美国被允许收购格陵兰岛，这让贸易不确定性再度升温。花旗策略师表 示："我们在全球资产配置中将欧洲评级下调至中性。"他们指出，尽管其预测目标显示，泛欧STOXX 600指数到2026年底之前仍有上行空间，但其他市场的风险回报更具吸引力。 ...