Citi Quants Say Tech Stocks Are a Safe Spot as Recession Looms
- Growth stocks are less exposed to long-term macro risks: Citi
- UBS GWM sees upside potential in tech sector from AI tailwinds
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Growth stocks are the place to be for the long term, despite higher-for-longer interest rates, because they are more resilient in the face of recession, according to Citigroup Inc. quantitative strategists.
While growth sectors like tech have been eschewed in favor of value amid the recent surge in bond yields, strategists including Hong Li prefer growth as the possibility of a global recession looms for 2024.