Investor sentiment toward stocks is becoming more pessimistic as they build short bets in both US and European equity futures, according to Citigroup Inc. strategists.P 500 futures positioning and pulled a net $US5.1 billion from exchange-traded funds, the team led by Chris Montagu said.In Europe, wagers on a decline in the Euro Stoxx 50 tripled, albeit from a low base, they said.
On the other hand, the picture right now could also indicate that investors “are not convinced about the recent bearish turn”, they said.After a sharp rally at the start of 2023, both US and European stocks ended last week with their biggest five-day drop this year as signs of sticky inflation fuelled concerns that central banks will remain staunchly hawkish.
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