Research Watch

Citi’s stocks warning, euphoria hits a high, CBA stretched, and more.

Australian equities have had a good run this year, but it could soon come to an end. As local stocks whiz past Citigroup’s year-end targets, testing yield limits in the process, the investment bank has downgraded our market to a sell. On the other hand, as global risk appetite approaches euphoric levels, Goldman Sachs is jacking up its forecasts for US stocks in the expectation that the rally will continue for years to come (there may still be time to put those valuable Australian dollars to use). Bank of America charts the “new Berlin Wall” being built in Europe, separating Germany’s financial markets from surrounding economies, while analysts take another look at beaten-down banks in the region. Meanwhile, UBS lists the global bubbles its most concerned about, Jamie Dimon gets a spanking, and, on video, Gerard Minack has some worrying parting advice.



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