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Citi's Prelim M/E Model Points to Above Average USD Sales

CROSS ASSET
  • Citi's prelim month-end rebalancing model points toward "slightly above average USD selling"
  • The USD sell signal is present against all currencies including the likes of CAD, despite Canadian equities outperforming their US counterparts. Poor Japanese performance may mean foreign investors need to buy JPY to reduce hedges, helping the USD/JPY sell signal to be the strongest among major currencies in October.
  • On asset rebalancing, their model points to a rotation out of equities and into fixed income this month.
  • They see US and Canadian stocks seeing the most significant outflows, while Japanese and EZ equities may see inflows.
  • Citi's model sees inflows into all fixed income markets as well as cash.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
HomepageBond Market Newsmarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
HomepageBond Market Newsmarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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