Reported about 1 month ago
Citigroup has decided to take profits on certain trades linked to a potential victory by former President Donald Trump in the upcoming election, noting that significant price movements typically occur before elections. Despite increasing investor belief in Trump's chances against Vice President Kamala Harris, the bank's head of macro research advised locking in gains due to moderate polling bias. Citigroup has exited profitable positions that benefitted from a stronger dollar and has shifted focus towards other investment strategies while maintaining some positions tied to a Trump win.
Source: YAHOO