Global PMI data indicates economic expansion in most major economies, with the exception of Europe.

Alalu Aganga of Citi Wealth believes upcoming mega-cap IPOs will not have a broad market impact, particularly regarding index inclusion, because the companies are not yet profitable.

Citi Wealth has adjusted its portfolios by trimming credit spread exposure and moving to shorter duration bonds due to spreads being at multi-year tights.

The US economy experienced 27% year-over-year earnings growth in Q1, exceeding expectations.