Investors unwound $9.4B in long positions last week - Citi

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Investors unwound $9.4B in long positions last week - Citi
Credit: © Reuters.

Analysts at Citi said in their Equity Markets Positioning Model note on Tuesday that net positioning declined for the S&P 500 as investors unwound $9.4 billion in long positions last week.

The firm stated that this reversed most of the risk flows observed the week prior and led to a moderation in bullish positioning.

"Bullish positioning eased as macro releases surprised to the upside last week. S&P positioning moderated from extended bullish levels while Nasdaq positioning stood firm," they wrote.

Citi added: "Nasdaq weekly flows were limited, and net notional was near unchanged. The current setup of declining bullish positioning and profit levels reduces overall positioning risk with last week's flows suggesting a decline in risk appetite."

Elsewhere, the bank said bullish positioning in Europe reduced for EuroStoxx and DAX , but investors continued to add new risk flows in European Banks.

"Both Euro Banks and S&P/ASX 200 reflect extended levels on both positioning and profits, leaving ongoing elevated risks of profit taking," stated Citi.

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