Trump baffles Wall Street with top dealmaker praise for Citi

Donald Trump praised Citigroup on March 18, 2024, for its supposed "top dealmaker" status, a ranking the bank does not hold. In a Truth Social post, the former president stated that Citigroup was "doing a great job" and "leading the pack" in dealmaking. However, financial data from Dealogic for the first quarter of 2024 shows that JPMorgan Chase & Co. leads in announced M&A advisory fees in the Americas, with Citigroup ranking seventh. Citigroup's own investor relations website does not list any "top dealmaker" accolades for the first quarter of 2024. This statement from Trump comes amidst ongoing discussions about his potential economic policies should he win the upcoming election, with Wall Street analysts closely watching his pronouncements.