Citi says global equity positioning improved as risk sentiment strengthened following the US-Iran MoU
Importance
Level 1
- In the US, increased small-cap positioning suggests broader participation, while large-cap exposure remains bullish but elevated Nasdaq longs leave risks skewed to negative catalysts.
- EuroStoxx positioning rebounded strongly on short covering, leaving a cleaner setup reliant on new risk flows.
- In Asia, Korean positioning surged back toward extremes, contrasting with continued weakness in China-related markets and steady gains in Japan, leaving KOSPI's stretched positioning as a key risk.
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