Pursuits
Citi Has an Alternative 'Big Short' on Retail
- Analysts say bet against empty malls is too crowded, imprecise
- Credit trades tied to individual retailers can be more focused
Jason Mudrick Says Retail Is a Mess, to Say the Least
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Wall Street’s bet against empty malls is getting too crowded, according to Citigroup Inc. analysts, who instead recommend wagering against individual retailers as the “next big short.”
Investors should consider buying default protection through the derivatives market on a basket of bonds from retailers that include Target Corp., Gap Inc., Nordstrom Inc. and Macy’s Inc., according to Citi’s Anindya Basu and Calvin Vinitwatanakhun.