花旗：下调美国股市评级从增持为中性

14 Apr 2025 00:00:21 ET │ 18 pages Volatilityhas grippedmarkets following "LiberationDay."Atrecentlows,major equity markets were pricing in flat-ish EPS growth, but not a recession. While markets have subsequently priced out some tariff-related risks, EPS downgrades are likely to continue. Late last year, we suggested investors shouldbegindiversifyingaway fromtheUS—recentdevelopments (DeepSeek, Europeanfiscal,tradetensions)havereinforcedthis view.WeupgradeJapanto Overweight, joining our pre-existing prefere ...