Citi Says Bear Market Here a While

A team of Citigroup analysts said that there will be a bear market in the U.S. investment market for some time to come.

“All bear markets include false rallies, often associated with supportive monetary policy. But markets only find a sustainable base when there are signs that cheap money is feeding through into the real economy, rather than temporarily supporting asset prices,” said analysts, as quoted by MarketWatch.

The bank said there will likely be a 50 percent drop in global earnings per share over the course of 2020.