Citi Sees Family Offices Swarming Bond Market and Fueling Rally
Bonds ‘deserve immediate attention’ as a ‘mild’ recession is expected next year, Citi Global Wealth said in a new report.
Source: Getty Images
This article is for subscribers only.
Citigroup Inc.’s ultra-wealthy clients are plowing money into fixed income.
Family offices and rich clients have been snapping up bonds lately, said David Bailin, chief investment officer at Citi Global Wealth, which manages about $700 billion of customer assets. Bonds “deserve immediate attention” given expectations that 2023 will be one of the weakest years for global growth in the past four decades, the group said in a report Thursday.