超配中国！外资新动作

Group 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][3] - The adjustments are expected to align with the improving macroeconomic outlook while maintaining a diversified investment portfolio [1] - Citi Private Bank emphasizes a preference for high-quality companies with strong fundamentals and growth prospects, focusing on large-cap stocks due to their robust balance sheets and diversified supply chains [2] Group 2 - In fixed income, Citi has reduced its holdings in developed market high-yield bonds, preferring to shift risk exposure to the stock market instead [3] - The bank anticipates that ongoing monetary easing, deficit spending, and tariff effects will continue to push inflation higher, despite the Federal Reserve's dovish stance [3] - Citi expects global economic expansion to continue, supported by loose monetary policy and stable economic activity, with nominal growth projected for 2026 [3][4] Group 3 - The U.S. tax reform and government spending commitments are expected to boost consumer and business spending and investment [4] - Citi forecasts that financial deregulation and a loose liquidity environment will promote healthy growth in leverage ratios by 2026 [4]