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