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Citi: This Selloff Is 2011, Not 2008
In 2016, risk assets have performed poorly, but risk appetite has taken an even bigger nose dive. While U.S. data, particularly those pertaining to industrial segments of the economy, have been underwhelming, the march toward full employment continues unabated. "There appears to be fear of fear itself as sentiment is simply awful," wrote Tobias Levkovich, Citigroup's chief U.S. equity strategist. "Almost every investor we talk to thinks we are too pollyannish by thinking the world isn't about to go off the edge." As usual during spans of red markets and elevated uncertainty, investors are searching for a ... (full story)
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