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David Bailin: How clients are positioning amid the COVID-19 crisis


By Citi Private Bank,

March 18, 2020Posted InEquities, Fixed Income and Investment Strategy

Uncertainty hangs over the world economy. The COVID-19 outbreak is now a global pandemic and is forcing sweeping and unfamiliar changes to our everyday lives and work. The effects upon financial markets have also been severe. Equity markets have recently experienced daily falls not seen since the Great Crash of October 1987, punctuated by daily and intraday rallies. So, how are clients of Citi Private Bank positioning their portfolios in response to the pandemic-induced turbulence? That was one of the questions that a Bloomberg reporter put to our Chief Investment Officer, David Bailin, in an interview on 13 March 2020.

One of the key trends that David highlighted to Bloomberg was clients seeking equity exposure, while also changing the risk profile of that exposure. Among the markets in which he noted significant interest was Brazil, where dislocation has left equities looking historically inexpensive. From a wider core portfolio perspective, David emphasized the case for staying fully invested. For 2021, he thought that owning more equities – and particularly income-orientated equities – at the expense of fixed income might prove to be beneficial. You can see the rest of David’s interview here.