Investing.com -- Positioning in U.S. benchmarks is trending lower, with new shorts added to the S&P 500 last week, according to Citigroup strategists.
The team led by Chris Montagu noted that Nasdaq 100 activity stands out from this broader trend, with new longs and short covering helping to push net positioning higher.
In European markets, FTSE 100 positioning remains roughly unchanged as investors await this week’s UK budget announcement.
The Euro Stoxx 50 has seen positioning on a downward trajectory for over a month, though it still remains in bullish territory, the strategists reported.
In the European banking sector, long covering activity dominates flows, suggesting investors are taking profits after weeks of positioning build-up.
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