Chief Investment Officer & Global Head of Investments, Citigroup
Search every verified David Bailin interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. David Bailin, Chief Investment Officer and Global Head of Investments at Citigroup, appeared on Bloomberg Radio on April 1, 2026, and in a July 17, 2026 interview. In the April appearance, he discussed cash yields for ultra-high-net-worth investors, stating that yields had dropped from 2.3% to 2.1% despite recent short-term rate increases. He noted that 9 to 11% of family office wealth is held in cash, which he said is not viewed as an asset class. Bailin also argued that the dollar was near a 20-year high and that it was a good time to re-enter international stocks and go short the dollar. He predicted inflation would remain near 3% for the next 12 to 18 months due to the oil situation, and said money market rates would stay attractive but not fall below 3%. He added that the best-case scenario for tariffs was a $170 billion negative impact on U.S. GDP, or three-quarters of one percent, this year and slightly less next year. In the July interview, Bailin argued that markets had overreacted to AI fears and that investors were overestimating earnings expectations while underestimating the long-term impact of AI. He said the build-out of data centers was about one-third complete, and that falling token prices would drive higher volumes of AI utilization in areas like robotics, logistics, and call centers. He identified hyperscalers and companies that use AI as beneficiaries, while warning that commodity hardware manufacturers facing falling prices carried the greatest risk. He also noted that private equity shares were beginning to recover and that health care, which had been under pressure for two years, was showing improvement.
“We've calculated that it's about a $170 billion of impact, 3/4 of 1% of GDP negative for the US this year and slightly next less next year. And the problem with that is that that's the best-case scenario.”
“We have a real problem with inflation. You know, inflation was roughly at 2 and 1/2%. I think that the oil situation for will for the next 12 to 18 months keep inflation closer to three.”
“One was the Fed pivoting from being very accommodative to saying, 'oh my God there's an incredible amount of inflation out there and we have to crush that, we have to treat it as a major problem.'”
“When we talk about beating the cash thief we're really talking about two things: making sure our investors actually invest their cash in productive assets, and recognizing that cash itself is a huge drag on the total value of their portfolio.”
“One of the things we're going to be advising our clients in fact to buy in 2024 is Emerging Market debt because these healthier economies and the dollar going down in value will turn out to be beneficial to them.”
“There's more cash sitting on the sidelines than at any time since 2007, and while investors may feel secure earning high overnight yields, that can be a bad long-term decision because cash yields will ultimately fall below inflation.”
“Those that have grown their wealth over time have taken a long-term view and built disciplined core portfolios.”
“While some fear recession in 2024 we do not share this view; instead we forecast the global economy to slow before growth re-accelerates toward 2025 — we call this pattern 'slow then grow'.”
“Global earnings per share could rise by a low double-digit amount over the next 18 months, and as inflation falls further the US central bank and others may start cutting interest rates.”
“Of course there are risks to our forecasts, including but not limited to inflation, geopolitical unrest and supply chain shocks.”
“Long-term valuations look attractive across asset classes and if valuations reset higher as we expect, attractive returns over the decade may follow; for example we believe global equities may deliver annualized returns of 8% and global fixed income 5% per annum.”
“Strengthen your core after significant moves in markets in 2022 and 2023 — this is an important time for investors.”
“We reiterate the case for fully invested, globally diversified core portfolios; a core portfolio is where investors hold most of their wealth aside from their business assets with the aim of long-term preservation and growth.”
“In equities, for example, we favor US small and mid-cap growth firms; in fixed income we find certain US Treasuries, high-quality corporate bonds and US municipals compelling.”
“Private equity, real estate and hedge funds could each see double-digit annualized returns amid this great reset.”
David Bailin argues that investors are overestimating earnings expectations and underestimating the long-term impact of AI.Joining us now is David Bailin founder CIO Group. David good morning. Happy Friday. Thanks so much for joining us. We've had ...
Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature our conversations with CIO Group’s David Bailin & Ian Bremmer of Eurasia Group. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF (http://bit.ly/3vTiACF) See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Tom Keene, Paul Sweeney, Lisa Mateo and Michael Barr have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment, and talk with the leading voices shap…
“Geopolitics and their impact on the markets are greater right now than at any point in my professional life,” said Ian Bremmer, president of Eurasia Group and GZERO Media. In this episode of “Living Beyond Borders,” a special GZERO podcast series brought to you by Citi Private Bank, we’re looking at the current state of the global economy. Gas prices are skyrocketing, supply chain issues abound, and we’re facing a bear market that has sent stock prices tumbling. All of these issues are exacerbated by the still ongoing COVID-19 pandemic, Russia’s war in Ukraine, and a growing divide and dec…
"We are coming out of a period of uncertainty," says David Bailin, Chief Investment Officer at Citi Global Wealth. "We've all been thinking it would go much faster than it has, but in the event we get to a more normal economy in 2024, given how vastly impactful COVID was, I think that that's a pretty fast outcome." In the latest episode of Living Beyond Borders, a podcast produced in partnership between GZERO and Citi Global Wealth Investments, Bailin is joined by Eurasia Group President Ian Bremmer to discuss what's happened so far on the economic and political stage, and what we might loo…
Our Chief Investment Officer David Bailin explains why now is a good time to be a global investor, with potential opportunities to ...
David Bailin, CIO and head of investments at Citi Global Wealth, dives into the details of the firm’s 2024 outlook. -------- Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: / business Facebook: / bloombergbusiness Instagram: / bloombergbusiness
David Bailin, Citi Global Wealth CIO, joins 'Squawk Box' to discuss the latest Fed minutes release, the impact on markets, economic outlook, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC o…
David Bailin of Citigroup Private Bank says he's "back in love" with the 60-40 portfolio. He speaks on "Bloomberg Surveillance.
David Bailin, CIO at Citi Global Wealth Investments, joins BNN Bloomberg to discuss the S&P 500 entering a bull market. Bailin is ...
Sign in to search the full transcript archive, filter by topic, and access every quote from David Bailin.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →