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Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

pandemic-investing-102

Perspectives

Pandemic Investing 102: Turning the Economy Back On – Expectations and Realities

Author

By , David Bailin, Chief Investment Officer, and Steven Wieting, Chief Investment Strategist and Chief Economist

April 16, 2020Posted InEquities, Fixed Income and Investment Strategy

This week a detailed, two-part Strategy Bulletin… The shortest/deepest recession, the most volatile month for the S&P 500 on record, and a one-month bear to bull market swing. Consumers are afraid, and governments are looking at how to reopen their economies to stave off further damage. 

Part One explains what is priced into markets versus the practicalities and complexities of “turning the economy back on”.

With substantial support from the Fed and Treasury, analysts and markets are looking far ahead and perhaps over the worst of the earnings declines. Citi Private Bank forecasts a -40% GDP decline in 2Q with earnings down 65% year-to-year before the rebound begins. 

Part Two presents Citi Private Bank’s economic assumptions and looks at the market implications. We provide GDP estimates for the global economy, estimated S&P earnings and what this means for portfolios.

As we look at expectations of global investors and the realities of turning the world economy back on, country by country, our detailed observations suggest a more volatile road ahead.   The likelihood that the downturn will be short and predicable appears modest given the circumstances.

Read CIO Strategy Bulletin.

 

All forecasts are expressions of opinion and are subject to change without notice and are not intended to be guarantees of future events.

 

If you are a Citi Private Bank client you can check the value of your portfolio by reviewing your monthly statements or, if you use Citi Private Bank InView, by navigating to the Account Overview page via Portfolio → Overview. If you have any queries please contact your usual Citi Private Bank representative.