S&P 500 exposure hits levels that preceded 10% slide, Citi says

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S&P 500 exposure hits levels that preceded 10% slide, Citi says
Chris Montagu
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(Bloomberg) -- Exposure to the S&P 500 has reached levels that were followed by a 10% slump in the past, according to Citigroup Inc. strategists.Most Read...

Long positions on futures linked to the benchmark index are at the highest since mid-2023 and are looking “particularly extended,” the team led by Chris Montagu wrote in a note.

Investors are more optimistic about the macro outlook this time around as the Fed has already started cutting rates at a time when economic growth remains resilient. The S&P 500 is back near record highs. Investing.com -- SAP raised its full-year guidance Monday after fiscal third-quarter results beat analyst expectations on both the top and bottom lines, driven by jump in cloud revenue.South Korea's government demanded the immediate withdrawal of North Korean troops allegedly deployed in Russia, warning the government "will not stand by.

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