Citi Abandons Lone Holdout Stance, Now Sees December Fed Hike
C sits 29% above its 52-week low of $95 on light trading volume (0.3× avg).
Summary
Citi's economists flipped hawkish after September CPI came in hot, now expecting a 25bp Fed hike in December and no cuts until June 2027. The bank had been the sole major forecaster holding out for no further moves this year. The shift follows inflation data showing gasoline-driven acceleration and broadening price pressures. This matters because Citi's rate call influences its own net interest income outlook and broader market positioning. The bank just reported strong Q3 earnings yesterday, and this macro view adds context to its forward guidance.
At the time of this announcement, C was trading at $123.01 on NYSE in the Finance sector, with a market capitalization of approximately $206.3B. The 52-week trading range was $95.00 to $147.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.