花旗对美股转趋谨慎：撤销「超配」评级，平仓标普500等权重指数多头仓位
据路透社报道，花旗集团10月13日（周二）撤销其对美国股票的「超配」（overweight）评级，并平仓了在标普500等权重指数（S&P 500 Equal Weight Index，代码.EWGSPC）上的多头仓位。花旗表示，此举是在市场亢奋迹象累积之际，策略性地撤下部分风险——该行原话为「我们策略性地撤下一些风险」（"We tactically take some risk off the table"）。
花旗给出的依据是其自家POLLS指标。该指标追踪仓位（positioning）、乐观情绪（optimism）、流动性（liquidity）、杠杆（leverage）与压力（stress）五个维度，花旗称其近期已升至历史上曾与市场见顶相伴出现的水平。
花旗同时表示，它并未转为看空美股，也不主张投资者全面撤向避险资产；其判断是，随着市场涨势延续，股价对负面消息的脆弱性正在上升，因此对股票整体转趋谨慎。
形成对照的是，就在前一天（周一），高盛把全球股票评级上调至「超配」，理由是近期市场回调后估值变得更具吸引力。两家大行在同一周内对股票仓位作出方向相反的调整。
据路透社介绍，标普500等权重指数与传统的标普500指数成分相同，但每只成分股权重接近相等，而非按市值加权，因此受超大市值公司的影响较小，被用作观察市场广度的指标之一。
（来源：路透社，2026年10月13日）
Citigroup Turns Cautious on U.S. Stocks, Drops "Overweight" Call and Closes Equal-Weight S&P 500 Long
Citigroup on Tuesday, October 13, dropped its "overweight" call on U.S. equities and closed its long position in the S&P 500 Equal Weight Index (.EWGSPC), saying it was taking some risk off the table as signs of market exuberance build. "We tactically take some risk off the table," the brokerage said.
The bank pointed to its POLLS indicator, which tracks positioning, optimism, liquidity, leverage and stress. Citigroup said the indicator recently reached levels that have historically coincided with market peaks.
Citigroup stressed that it has stopped short of turning bearish on stocks and is not advocating a broad flight to safety. It said it is growing more cautious on equities as market gains appear increasingly vulnerable to signs of trouble.
The move contrasts with Goldman Sachs, which on Monday upgraded global equities to "overweight," citing more attractive valuations following the recent market pullback — leaving two major banks adjusting their equity calls in opposite directions in the same week.
The S&P 500 Equal Weight Index tracks the same 500 companies as the traditional S&P 500 (.SPX) but gives each stock roughly equal weight, reducing the influence of mega-cap companies and offering a broader gauge of the market.
(Source: Reuters, October 13, 2026)
图片来源：纽约花旗集团中心大楼资料图，Kidfly182摄，Wikimedia Commons，CC BY 4.0
