Citi says US exceptionalism may support US equities and a stronger USD
Citi stays constructive on European equities to mid-2027 despite macro headwinds
CoreWeave (CRWV) plans to sell USD 3.5bln worth of senior notes, offering due 2032, notes to be structured across EUR and USD; 6yr non-call 3yr notes.
Citi says US exceptionalism may support US equities and a stronger USD
Goldman Sachs sees earnings growth driving S&P 500 higher despite record US issuance
EUROPEAN OPEN: ORCL falls as AI financing plans overshadow results; ASML NA to cut fewer jobs after union talks; FRAS LN bids EUR 2.7bln for BOSS GY; RYA ID faces CMA seat reservation probe; P911 GY, BAS GY upgraded
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- Citi says a sharp divergence in economic data, with accelerating US momentum and a weakening G9, likely signals a return to US exceptionalism.
- The regime would likely support continued medium-term US equity strength and a stronger USD, despite recent tactical risk-off signals being triggered.
- Citi says preferred expressions could combine SPX upside with EURUSD downside, noting the historical SPX/USD correlation is unstable but that such positions offer positive expected value based on historical hit rates versus market pricing.
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