Citi Says Current Bull Run Lacks the Rate Shock That Has Ended Prior Bulls
Citigroup strategists argue that the historical pattern of bull markets ending after large Fed tightening cycles is not present today, noting the Fed has not yet raised rates and its balance sheet is still expanding. Citi maintains a one-notch overweight on equities concentrated in the U.S. and emerging-market Asia, raises its 2026 S&P 500 target t…