SUMMARY
Equity markets are deeply unsettled. As things stand, Citi Global Wealth expects US employment to be positive, profits to marginally grow further, and inflation to start slowing through the remainder of 2022.
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Learn more about In ViewHelpOnline securityPlease be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.
Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían redactarse únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.
Informamos que as comunicações verbais e por escrito do Citi podem estar em inglês, pois talvez não possamos fornecer comunicações relacionadas a serviços em todos os idiomas. Essas comunicações podem incluir, mas não estão limitadas a, acordos de contas, declarações e divulgações, mudanças nos termos ou taxas; ou qualquer serviço de sua conta. Se você precisar de ajuda em um idioma diferente do inglês, entre em contato conosco, pois temos serviços de idiomas que podem ser úteis para você.
请注意,花旗集团可能使用英文进行口头和书面通信,因为我们可能无法以所有语言提供与服务相关的通信。这些通信可能包括但不限于账户协议、账单与披露声明、条款或费用变更,或为您账户提供的任何服务。如果您需要英文以外的其他语言的帮助,请与我们联系,因为我们提供可能对您有帮助的语言服务。
Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages. These communications may include, but are not limited to, account agreements, statements and disclosures, change in terms or fees; or any servicing of your account. If you need assistance in a language other than English, please contact us as we have language services that may be of assistance to you.
Por favor, tenga en cuenta que las comunicaciones verbales y escritas de Citi podrían redactarse únicamente en inglés, ya que, tal vez, no podamos proporcionar comunicaciones relacionadas con los servicios en todos los idiomas. Estas comunicaciones podrían incluir, entre otras, contratos, divulgaciones y estados de cuenta, cambios en los términos o en los cargos, así como cualquier documento de mantenimiento de su cuenta. Si necesita ayuda en un idioma distinto al inglés, por favor, comuníquese con nosotros, ya que tenemos servicios de idiomas que podrían serle útiles.
Informamos que as comunicações verbais e por escrito do Citi podem estar em inglês, pois talvez não possamos fornecer comunicações relacionadas a serviços em todos os idiomas. Essas comunicações podem incluir, mas não estão limitadas a, acordos de contas, declarações e divulgações, mudanças nos termos ou taxas; ou qualquer serviço de sua conta. Se você precisar de ajuda em um idioma diferente do inglês, entre em contato conosco, pois temos serviços de idiomas que podem ser úteis para você.
请注意,花旗集团可能使用英文进行口头和书面通信,因为我们可能无法以所有语言提供与服务相关的通信。这些通信可能包括但不限于账户协议、账单与披露声明、条款或费用变更,或为您账户提供的任何服务。如果您需要英文以外的其他语言的帮助,请与我们联系,因为我们提供可能对您有帮助的语言服务。
Equity markets are deeply unsettled. As things stand, Citi Global Wealth expects US employment to be positive, profits to marginally grow further, and inflation to start slowing through the remainder of 2022.
A rapid “change of weather” for the economy appears on the horizon. Looking ahead to 2023, we also expect a likely 10% decline in US corporate earnings.
We have changed our scenario weightings to 10% Robust, 20% Resilient and 70% Recession.
The US Federal Reserve is fighting inflation with a potent combination of higher interest rates and Quantitative Tightening. They are moving very quickly, so fast that the impact of their tactics is not apparent, yet. The Fed’s speed will also diminish its ability to counter policy mistakes.
The rough end to 2022 and the likely uncertain entry for 2023 is a mere “moment” in the life of an investor’s portfolio. If you knew for sure you were going to have a recession, you might think that selling stocks would be a good idea as losses would come quickly. Yet, it turns out that during pre-recessionary periods when the yield curve has been inverted, the US stock market has, on average, gone up by 3%. However, in the 6 and 12 months after a recession has begun, stock performance has been negative 5% and 3%, respectively, with a wide range of possible outcomes.
While uncertain, we believe the chance is high that the economic “bottom” will become visible by the end of 2023.
In this Bulletin, we cover what we have not seen yet, the forward impacts the Fed may have across industries and the broader economy. Our purpose here is to prepare investors for what is likely to come in the next six months and help them avoid shock.
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To help put you in touch with the right Private Bank team, please answer the following questions.
Our services have a minimum investment level of $5 million.
Based on the information provided, we believe that a Citigold relationship may be most appropriate for your needs.
To find out more: Visit Citigold
Our services have a minimum investment level of $5 million.
Based on the information provided, we believe that a Citigold relationship may be most appropriate for your needs.
To find out more: Visit Citigold
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