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The Citibank analysts have changed their view on the risk assets from bearish to neutral, with the US benchmark, S&P 500 index, looking promising ahead of the earnings season.

Key quotes

“Markets seem to be less troubled about the rising number COVID-19 cases amid falling hospital and fatality trends, better targeted economic restrictions and medical breakthroughs are possible.

Recommend buy the dips in US equities (S&P500), as they look higher ahead of earnings season.

The US dollar bias probably now is negative.

Citing the EU recovery fund and less threat from the German court ruling on BUBA bond-buying, EUR/USD risks the further upside.”