Forget About 2008 Sequel in U.S. Stocks, Economy, Citigroup Says
- Strategist Levkovich sees more differences than similarities
- Bank tightening of credit terms far from pre-recession levels
Citi's Levkovich: We Remain 'Moderate Bulls' on Stocks
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Speculation that the stock market and economy are headed for the kind of turmoil that marked the 2008 financial crisis is off base, according to Tobias Levkovich, Citigroup Inc.’s chief U.S. equity strategist.
“It is actually far more challenging to find comparisons than differences” between then and now, Levkovich wrote in a Jan. 15 report. Aside from a relatively close relationship between moves in U.S. and Chinese stocks, “The hard data is less than convincing.”