CITI* reduced the rating of US shares from “neutral” to “overvalued”
At the same time, they increased the Japanese rating from “below the market” to “above the market” and reduced the rating of shares of developing markets from “neutral” to “below the market”.
CITI has increased the rating of European shares to the “above market” amid the suspension of tariffs.
*Citigroup Inc. Or CITI - an American multinational investment bank and a company providing financial services. It is based in New York.
The company was formed in 1998 by the merger of Citicorp, the Citibank banking holding company, and Travellers. 1 is a part of the "large four" of US banks, along with Bank of America, Jpmorgan Chase and Wells Fargo.
Citigroup works with two main units:
- Institional Clents Group (ICG). Offers investment-banking and corporate banking services, as well as treasury and trading decisions and securities services.
- Personal Banking and Wealth Management (PBWM). It includes CITIBANK, the retail bank, the third largest issuer of credit cards, as well as the capital management business