Citi
May 22, 2026
The Point for Europe
Daily UpdateEquitiesMacro Economic IndicatorsFXFinancialsHealth Care
Citi's daily summary focuses on the competitive impact of Chase's 4% deposit rate in Germany, new high-efficacy weight loss data from Eli Lilly impacting Novo Nordisk, and a resilient global macro outlook despite Middle East conflict.
Key Takeaways
- 1.Chase's entry into the German retail deposit market with a 4% rate poses a significant competitive threat to established banks like ING and Commerzbank.
- 2.Eli Lilly's retatrutide trial (TRIUMPH-1) results show a best-in-class 28% weight loss, setting a high bar for future competition against Novo Nordisk's Wegovy.
- 3.Global economic growth remains resilient at 2.6% for 2026, despite a major supply shock caused by the Iran war and the closure of the Strait of Hormuz.
Table of Contents
- Top Call
- Company
- Must Read
- Industry
- Strategy & Economics
- Fixed Income & FX
- Key Rating and Target Price Changes
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Authors
Shrey SrivastavaAndrew Coombs, CFANathan Sheets
Securities
INGA.ASDanske Bank A/SNOVOb.COCBKG.DE
Themes
Retail Banking Competition in EuropeWeight Loss (Obesity) Drug InnovationGlobal Macro Resilience vs. Energy Shock
Regions
EuropeAsia PacificNorth AmericaGermanyDenmarkUnited Kingdom