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Investment Strategy Bulletin
FX Insights
Wealth Outlook 2025
FX Perspectives
Investment Strategy Bulletin ꟾ May 9, 2025 By Citi Wealth Insights
All eyes on Geneva this weekend. As of this writing on Friday morning, we are hours away from the start of trade talks between US and Chinese officials in Geneva. President Trump announced a trade deal yesterday with the UK, and the Administration has teased negotiations with 16 additional trading partners. In our view, the only way investors can reasonably justify current market pricing is to assume that broad tariff rates – and specifically US-China tariffs – will be dramatically reduced in the coming months. In the absence of a material climb down, we would expect markets to remain volatile as economic data is likely to start to deteriorate by the third quarter.
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Middle East Strategy
Global Strategy
Middle East Strategy ꟾ May 2025
After years of restraint, OPEC+ is hiking production. The group announced it will raise oil output by 411k barrels per day (b/d) in June, similar to its April increase. Markets had expected just 140k b/d. OPEC+ also says it will speed up the return to market of 2.2 million barrels per day that it had withdrawn in recent years, with the potential to pause or reverse the decision.
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