sentix Investmentmeinung 48-2015

Written by Manfred Hübner | 30 November 2015
Posted in sentix Weekly

There are no translations available.

Santa Mario lässt Anlegerherzen höher schlagen

Was in den Köpfen eines Notenbankers vorgeht, entzieht sich unserer Vorstellungskraft. Was in den Köpfen der Anleger vorgeht, ermitteln wir dagegen recht genau. Und da tut sich einiges. Das Belohnungszentrum der Anleger wird von den „Möglichkeiten“, welche die EZB hat oder zu haben scheint, schon vor Vollzug konkreter Maßnahmen kräftig stimuliert. Bekanntlich ist die Vorfreude die schönste aller Freuden. Bleibt nur zu hoffen, dass Santa Mario auch wie versprochen liefert. Denn nach der EZB-Sitzung dürfte es an Freudennachrichten eher wieder mangeln.

Geänderte Einschätzung: Alle Aktienmärkte, EUR-USD

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sentix ASR Essentials 48-2015

Written by Manfred Hübner | 29 November 2015
Posted in sentix Weekly

Stretched sentiment on FX and Equities as CB meetings loom large

The latest sentix survey provides a timely insight into investors’ thinking heading into a key period for markets, with December’s ECB and Fed meetings having cast an increasingly long shadow across markets in recent weeks. The survey highlights several areas in which sentiment has become notably stretched. In FX, investors remain extremely pessimistic on the near-term outlook for the Euro versus the US dollar. This is in marked contrast to the high optimism that is evident on equity indices such as the EuroSTOXX. Such stretched sentiment suggests a lot of central bank (CB) news is already built into FX and equity markets, which may leave them vulnerable to any disappointment. In the case of equities, the survey also suggests investors have become highly uncertain about the medium-term strategic outlook (Charts 2-4, P2). It could make for a volatile ride for markets in the coming weeks.

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The bulls are on the loose again – Optimism reaches alarming level

Written by Julien Mueller | 23 November 2015
Posted in Special research

The latest investors’ sentiment towards German large cap stocks nearly reaches an all-time high. Since inception in 2001, the sentix Global Investor Survey has only shown comparable levels twice. The current sentiment level bur-dens not only stock markets in the near future, but also signals medium-term effects.

sentix Investmentmeinung 47-2015

Written by Manfred Hübner | 23 November 2015
Posted in sentix Weekly

There are no translations available.

Ja ist denn heut‘ schon Weihnachten?

Der DAX Index hat die 11.000er Marke zurückerobert und die Stimmung der Anleger ist nicht nur blendend, sie ist euphorisch. Die „Wellness á la EZB“ sorgt bei den Anlegern für gute Stimmung und dennoch dürfte damit zunächst der Höhenflug eine Unterbrechung erfahren. Dafür spricht nicht nur das saisonale Muster.

Geänderte Einschätzung: Nikkei-Index, EUR-USD

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sentix ASR Essentials 47-2015

Written by Patrick Hussy | 22 November 2015
Posted in sentix Weekly

High optimism on Equities contrasts with continued Commodity caution

The latest sentix survey points to highly elevated investor optimism on global equity indices. Survey readings on the near-term outlook for European and US markets are running at the high-end of their historic range, though investors have also become a little less positive on equities from a medium-term strategic perspective (see Charts 5-6, page 3). However, on the other side of the sentiment divide, investors have become more cautious on commodities as an asset class in the past month. This chimes with their slightly less positive view on the outlook for Emerging Equity Markets (Charts 2-4, page 2). Sentiment on EM Equities and Commodities remains closely linked.