sentix ASR Essentials 47-2014

Print

Cyclicals sentiment upswing yet to reach Energy and Resources

The latest sentix survey suggests that investors' views on sectors have begun to shift in the last couple of months. On one hand, survey respondents have become less optimistic on the prospects for Telecoms and Healthcare versus the market. On the other, they are now less cautious on the six month outlook for Cyclical sectors such as Industrial Goods & Services, Autos and Chemicals. As yet, however, deep pessimism remains the dominant survey theme on Basic Resources and Energy. Such pessimism echoes the extreme negative near-term sentiment towards Crude Oil, though on this front there are signs that investors are becoming less pessimistic on a medium-term, more strategic perspective (see Charts 2 to 4, page 2).

Click here for the full report

sentix ASR Essentials 46-2014

Print

Economic expectations temper Bond optimism

The latest sentix survey suggests that a revival in investors' views on the economic outlook for Germany and the Eurozone is tempering their enthusiasm for Bunds. This week's survey included responses on the macro outlook, which revealed that participants viewed economics as continuing to become less bond-bullish on a six month view (see Chart 3, page 2). This is consistent with signs that the sentiment tide on Eurozone bonds may be turning. Near-term sentiment readings for Bund futures have fallen back to relatively neutral levels, while optimism on a more strategic, medium-term viewpoint is also beginning to weaken (Chart 2). Macro still matters for bond sentiment.

Click here for the full report

sentix ASR Essentials 45-2014

Print

Crude pessimism reaches historic extremes

The latest sentix survey underlines the extent to which the recent reversal in Crude Oil (now down 35% in the past six months) has undermined sentiment. The nearterm sentiment revival that emerged in mid-October has been reversed in the space of a week, with readings falling to historic lows. At the same time, investors have become less optimistic on the medium-term, more strategic outlook for Crude. While extended near-term pessimism chimes with indicators that suggest Crude is oversold near-term, recent moves appear to have undermined survey participants' more fundamental views on Oil.

Click here for the full report

sentix ASR Essentials 44-2014

Print

Due to travelling we cannot provide an English report this week. Please excuse the inconvenience. If you want to check the latest highlights, the German report might give you an impression about where to look.

Click here for the analysis in German (sentix registration required)

sentix ASR Essentials 43-2014

Print

Cyclicals sentiment upswing

The latest sentix survey suggests that investors’ views on sectors have begun to shift in the past month. On one hand, survey respondents have become less cautious on the six month outlook for Cyclical sectors such as Industrial Goods & Services, Autos and Chemicals. Sentiment towards Basic Resources has also modestly improved, in contrast to Energy, where pessimism still dominates. On the other hand, they have become less optimistic on the prospects for Telecoms and Healthcare versus the market (see Charts 2 to 4, page 2). Deep pessimism on Cyclical sectors versus Defensives may be beginning to ease.

Click here for the full report

We use cookies and third-party services that store information in the end device of a site visitor or retrieve it there. We then process the information further. This all helps us to provide you with our basic services (user account), to save the language selection, to optimally design our website and to continuously improve it. We need your consent for the storage, retrieval and processing. You can revoke your consent at any time by deleting the cookies from this website in your browser. Your consent is thereby revoked. You can find further information in our privacy policy. To find out more about the cookies we use and how to delete them, see our privacy policy.

I accept cookies from this site.

EU Cookie Directive Module Information