Citi’s Manthey Sees More Diversification Out of US Stocks

Investor diversification away from US equities will power on in 2026, driving a further 10% gain for a benchmark global stock index, according to Citigroup Inc. strategists. A key reason for this is a growing convergence between earnings in America and the rest of the world, the team led by Beata Manthey wrote in a note. Improvements in earnings per share remain possible in key markets outside the US, through government spending in Europe, reflation in Japan and widespread artificial intelligence adoption ...