sentix ASR Essentials 41-2014

Written by Manfred Hübner | 02 November 2014
Posted in sentix Weekly

BOJ moves – seen as good for Nikkei; bad for Yen

The latest sentix survey underlines the extent to which the BOJ's surprise stimulus measures have impacted sentiment towards Japanese markets. In terms of the near-term outlook for the Nikkei 225, sentiment readings have spiked sharply higher, albeit they are shy of historic highs. While the initial impact on survey participants' views on the medium-term outlook has been less dramatic, investors are becoming gradually more upbeat from a more strategic perspective, after a latesummer setback in sentiment. On the other side of the sentiment divide, pessimism on the Yen versus the USD has also increased markedly, with near-term sentiment readings reaching historic highs on USD/JPY (while USD optimism is also high-end in EUR/USD). Investors seem to view BOJ moves as good for Nikkei, but bad for Yen.

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There the wood creaks

Written by Manfred Hübner | 27 October 2014
Posted in sentix Euro Break-up Index News

The sentix Euro Break-up Index (EBI) increases significantly in October from 7.7% to 11.8%. This is the highest reading since February 2014. The rising problems on the economic front of the Eurozone start again to undermine the stability of the Eurozone. To the weak readings in the EBI even the results of the Euro zone banking stress tests, which were already known in the market during the survey, could not change anything.

sentix ASR Essentials 40-2014

Written by Patrick Hussy | 26 October 2014
Posted in sentix Weekly

Pessimism a little less marked on Equities

The latest sentix survey indicates that pessimism towards equities has begun to ease, both in terms of participants' views on the near-term and their medium-term, more strategic opinion on markets. A less pessimistic attitude can also be seen in investor positioning, with the level of over-investment in equities among survey respondents having moved back to longer-term average levels (Chart 3, page 2). While bonds have been the near-term sentiment losers from this change of investor tack, survey participants' over-investment in European bonds is still above long-term average levels (Chart 10a, page 4). It is still early days with regards to the swing in sentiment back from bonds towards equities.

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sentix IPO Sentiment: Das tat weh

Written by Manfred Hübner | 20 October 2014
Posted in Special research

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Die enttäuschenden Börsengänge am deutschen Aktienmarkt haben die IPO Stimmung der Anleger massiv gedrückt. Das sentix IPO Sentiment kippt um 20,25 Punkte ab und notiert nun mit -39,75 Punkten auf dem niedrigsten Stand seit Juni 2012! Damit haben Rocket Internet und Zalando ihren potentiellen Emissionsnachfolgern einen echten Bärendienst erwiesen.

sentix ASR Essentials 39-2014

Written by Manfred Hübner | 19 October 2014
Posted in sentix Weekly

Emerging Market sentiment plays catch-up with Commodities

The latest sentix survey indicates that the notable divergence in opinion on the Emerging Markets (EMs) and Commodities has begun to close. In recent months, a rising tide of optimism towards EMs as an asset class has provided an unusual counterpoint to deep pessimism on Commodities. An odd development given sentiment towards both asset classes has historically had a reasonably close relationship. However, this month’s questions’ on asset class preferences indicate that investors have begun to temper their optimism on EMs. While there remains a notable sentiment gap, Emerging Market sentiment has begun to play catch-up with Commodities.

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