Research @ Citi

Dirk Willer, Citi's Global Head of Macro Strategy and Asset Allocation, sits down with Alex Saunders, Head of Global Quant Macro Strategy, to survey the macro-strategy landscape. They think risks on the equity side have risen but stay the course, albeit with bonds as a hedge. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are...

Erica Poon Werkun, Head of Research for JANA and Asia South at Citi, discusses Prime Minister Takaichi's "Sanaenomics" agenda and its macro implications with Ryota Sakagami, Japan Equity Strategist, and Tomohisa Fujiki, Japan G10 Rate Strategist. Topics covered include the outlook for Japanese equities, growth strategies and fiscal risks, and the monetary-policy path. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial...

Scott Chronert, Head of U.S. Equity Strategy, sits down with Paul Lejuez, who covers U.S. Department Stores & Specialty Softlines, Broadlines and Food Retailing, to talk about the state of the U.S. consumer. Discussion topics include how to define "the consumer," the question of tariffs, and how AI could reshape retail. This podcast contains thematic content and is not intended to be investment research, nor does it constitute financial, economic, legal, tax, or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial...

Anne Malone, North America Head of Research, sits down with Andrew Kaplowitz, Head of U.S. Industrials Research, to discuss themes shaping Industrials in 2026. The lead theme is AI, with capex growth permeating everything in the sector. But topics from the broadening thesis to M&A and U.S. federal policy are also attracting investor attention. This podcast contains thematic content and is not intended to be investment research, nor does it constitute financial, economic, legal, tax, or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or...

Dirk Willer, Citi's Global Head of Macro Strategy and Asset Allocation, sits down with Alex Saunders, Head of Global Quant Macro Strategy, to discuss factors shaping equity markets so far in 2026. Topics include Kevin Warsh as Fed chair, looking beyond debasement fears in the gold trade, and Japan's elections. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of...

Anne Malone, Citi's North America Head of Equity Research, sits down with Keith Horowitz, Global Head of Banking, to discuss emerging trends in banking. Their conversation ranges from the lessons learned post-Silicon Valley and how regional banks compete to the rise of private credit and the impact of stablecoins. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of...

Beata Manthey, Citi's Head of European Equity Strategy, sits down with Senior Equity Strategist David Groman to discuss three topics shaping equity markets so far in 2026: artificial intelligence, geopolitics, and whether what's priced in by markets aligns with reality. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and...

Erica Poon Werkun sits down with Pierre Lau and Surendra Goyal to discuss the prospects for China and India equities in 2026. Topics include our views on emerging markets, the direction of China's fiscal policies, and India's macro environment. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should...

Geopolitics and AI were big themes at Davos. An easing in Greenland tensions doesn’t necessarily mean USD weakness is behind us. For equities the AI story is more important; we stay strategically positive despite some short-term tactical indicators looking less constructive. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your in...

Scott Chronert and Drew Pettit discuss our 2026 outlook for U.S. equities and why we expect a fourth year for the current bull run. We also explore why we’re retiring the Mag 7 in favor of the Elite 8. This podcast contains thematic content and is not intended to be investment research, nor does it constitute financial, economic, legal, tax, or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should no...

Elise Badoy, Head of Europe, UK, Middle East and Africa Equity Research, sits down with Martin Wilkie, Head of Capital Goods Research, to discuss physical AI, how it's transforming industrial processes, and why advances in robotics are about more than humanoid designs. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your...

Early January is when investors put their money to work in line with their views for the year. A large part of that money goes into consensus trades, which often do quite well before seeing setbacks. So where is that consensus? Dirk Willer and Alex Saunders offer a survey across asset classes, along with investment strategies. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or...

Rob Rowe, U.S. Regional Director of Research, sits down with Head of Research Lucy Baldwin to discuss investment themes for 2026. We see a reasonably resilient and growing economy for the year's first half, with central-bank stimulus coming through. But given the number of risks on the horizon, we also suggest some caution. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial...

Rob Rowe, Citi's U.S. Regional Director of Research, sits down with IBM's Noelle Ibrahim to discuss the current state of quantum computing, IBM's road map for future advances, and potential applications for this fast-moving technology. This podcast contains thematic content and is not intended to be investment research, nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be...

Scott Chronert, Citi’s Chief U.S. Equity Strategist, sits down with Global Chief Economist Nathan Sheets to discuss the 2026 economic outlook. Topics of discussion include the “Goldilocks” state of the U.S. economy, the effects of tariffs on inflation, the Fed’s path, and the ongoing debate about AI and economic productivity. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instrume...

Elise Badoy, Head of Equity Research for Europe, UK, the Middle East and Africa, sits down with Beata Manthey, Head of European Equity Strategy, to discuss our European outlook for 2026. Topics discussed include the prospects for fiscal revival, the AI broadening theme and geopolitics. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based...

Anne Malone, North America Head of Equity Research at Citi, sits down with John Godyn, Citi's Head of Aerospace, Defense and Airlines, to discuss the state of the airline industry. Topics include the importance of holiday travel to airline financials, what makes an airline a "super major," and industry M&A prospects. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments...

Dirk Willer, Citi's Global Head of Macro, sits down with London Macro Head Adam Pickett to discuss asset allocation in 2026. The two explore why the year looks like a Goldilocks scenario, considering equities (and necessary hedges) along with views on credit, fixed income and commodities. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not...

Head of Research Lucy Baldwin sits down with Max Layton, Global Head of Commodities Research, to discuss a remarkable 2025 for commodities as well as what to expect in 2026. Topics include the gold bull market, what may lie ahead for oil, and how developments with central banks and China may shape commodities strategy. This podcast contains thematic content and is not intended to be investment research. Nor does it constitute financial, economic, legal, tax or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments...

Scott Chronert, Head of U.S. Equity Strategy, sits down with Tushar Yadava, Head of Markets at BlackRock Model Portfolios, to discuss the substantial growth in the model portfolio business and its importance for asset allocation trends. This podcast contains thematic content and is not intended to be investment research. nor does it constitute financial, economic, legal, tax, or accounting advice. This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not...