Citi Abandons Call on Energy in High-Yield Bonds
From Dow Jones & Company: 2025-05-09 15:45:00
President Donald Trump’s support for increased oil drilling influenced a credit strategist to be optimistic about the energy sector in January. However, Michael Anderson of Citigroup changed his tune on Friday, deciding to pull back on investing in high-yield energy bonds due to recent market conditions.
Anderson cited the decline in oil prices, dropping to $57 on Monday, as a key factor in his decision. This drop came after OPEC and its allies announced plans to rapidly increase oil supply to gain more market share, leading to uncertainty and volatility in the energy sector.