Citi's equity market positioning model notes that positioning remains highly fragmented
- Citi notes that US market gains last week were unaccompanied by stronger conviction in positioning
- European flows are subdued and indecisive, though Euro Banks remain resilient
- In Asia, Citi says that the re-risking into the Hang Seng contrasts sharply with continued KOSPI deterioration
- On the tech sector, Citi says that Nasdaq and KOSPI point to weakening positioning momentum in tech-sensitive markets, with US tech increasingly reliant on short-covering support
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