Citi upgrades US and European equities to 'overweight' on tariffs pause

There's no detailed commentary for the change in their call, just the headline itself. It's going to be an interesting session in US trading later. S&P 500 futures are now down 1.5% but the risk mood can easily flip on its head at this point, on both sides. Headline risk remains the key thing to watch out for. Oh, and we also have the US CPI report coming up as well.