Whalesbook
Citi's Drew Pettit anticipates the US Federal Reserve will cut interest rates in December, viewing them as 'insurance cuts' to support global markets. He notes India's strong fundamentals but warns of full valuations, leading Citi to downgrade the country's rating from 'overweight' to 'market weight'. Investors are seeking AI opportunities globally, but India is not currently part of this rotation. Citi sees a 'boom' rather than a 'bubble' in AI, with broader market support expected by 2026.