From a Citi analysts client note – the bank has switched from bearish to neutral
Says markets seem to be less troubled about the rising number COVID-19 cases, due to:
- falling hospital and fatality trends
- better targeted economic restrictions
- medical breakthroughs are possible
Now look to buy dips in US equites (S&P500), look for higher ahead of earnings season
- USD bias probably now negative
- could be EUR/USD upside (Citi cite the EU recovery fund, less threat from the German court ruling on BUBA bond buying)
via Bloomberg