Citigroup (C) Chief Executive Officer Jane Fraser said merger activity is picking up as US companies gain confidence from policy signals, with a recession appearing unlikely, Bloomberg reported Thursday.

Fraser said in an interview on Bloomberg Television that Citi is closely monitoring the labor market, cautioning that "not everything is rosy."

The Middle East stands out as a growth region, driven by investment flows, economic diversification and expanding business with India and China, Fraser said, according to the report.

Citigroup didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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