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Citigroup: Consider the pound

May 15, 2015 7:43 AM ETFXB, GBB-OLDBy: Stephen Alpher, SA News Editor
  • “In our negative- and low-yield world, it is the only major liquid currency with a significant yield other than the dollar," says Citi's Steven Englander, bullish on the pound (NYSEARCA:FXB) even if the Bank of England holds off on rate hikes until mid-2016 (as is currently priced in to interest rate futures).
  • “The surprise Conservative majority in the election removes the political risk of a hung parliament and sharp reversal of policy. Overweighting the pound gives you euro diversification with yields that are only a couple of basis points below dollar yields," says Englander.
  • ETFs: FXB, GBB

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