Citi(US:C) Zheng Quan Shi Bao Wang·2025-12-12 03:45Group 1 - The core viewpoint of the article indicates that Citi Private Bank's Global Investment Committee has increased its allocation to U.S. large-cap stocks and gold while reducing exposure to Asian emerging market stocks outside of China and high-yield bonds in developed markets [1][2]. - Citi believes that these adjustments align with the improving macroeconomic outlook and aim to maintain a diversified investment portfolio while managing risks prudently [1][2]. - The bank emphasizes a preference for high-quality large-cap companies due to their robust balance sheets and diversified supply chains, which are better positioned to navigate changing trade environments [2]. Group 2 - In fixed income, Citi has reduced its holdings in developed market high-yield bonds, opting instead to shift risk exposure towards the stock market as spreads are near historical lows [3]. - The bank has increased its allocation to gold, viewing it as a strong performer and an effective hedge against risks in the current environment of rising yield pressures [3]. - Citi anticipates that the global economy will continue to expand, supported by loose monetary policy and stable economic activity, despite inflation remaining above target levels [3][4].