Citi’s latest sentiment reading, via their commercially-named Panic/Euphoria model, shows that sentiment has snapped back, dipping slightly into the “Panic” zone.
Obviously this is just a model, and a somewhat opaque one at that. Yet it can still be used as a gauge against its own history. Clearly the sentiment metrics involved are still well below where they were in both 2007 and 2008. By Citi’s model, we’re at about late-2006 levels of sentiment.
(Charts via Citi, The PULSE Monitor, 25 September 2009)
