🟢 [E492] Investor positioning: strong bias toward EM (+61), especially Asia (Korea +71, China +47) and Japan (+69). Exposure softening in US (-7, trending risk-off).

🟢 [E124] Investors remain broadly risk-on globally (+31 exposure indicator), with strong bias toward Emerging Markets (+61), especially Asia (Korea +71, China +47) and Japan (+69). Exposure is softening in the US (-7, trending risk-off), UK (+12), and Eurozone (+5), with intra-EZ divergence (France -25 vs. Germany +18).

🟢 [E378] Global liquidity hit all-time high of $188.8T, with 3-month annualized growth at 3.6% and annual growth at strong 8.7%. Shadow Monetary Base reached $112.1T with 3-month annualized growth jumping to 9.1%.