Aug
24
2019
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Citi Economic Surprise Index and S&P 500
The Citi Economic Surprise Index has risen sharply, but it has an inconsistent history in terms of its correlation with the S&P 500.
It is a cyclical indicator: high readings suggest favouring defensives over cyclicals, and low readings suggest favouring cyclicals over defensives.
Image: Renaissance Macro Research
![Citi Economic Surprise Index and S&P 500](https://www.isabelnet.com/wp-content/uploads/2019/08/Citi-Economic-Surprise-Index-and-SP-500.jpg)