sentix Survey results (38-2019)

Written by Patrick Hussy | 22 September 2019
Posted in sentix Weekly

Profit taking announced

Stronger profit-taking is indicated for bonds in Euroland. The bias does not follow the stabilization attempt that is taking place in the Bund future. The price recovery should be used to reduce positions.

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New start-up for bank shares

Written by Manfred Hübner | 17 September 2019
Posted in sentix Weekly

In the current sentix survey on sector assessments in the Euro zone, a change in favourites from defensive to cyclical sectors is emerging. We were particularly curious about the expectations for banks after the ECB took far-reaching decisions at its last meeting on 12 September.

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sentix Survey results (37-2019)

Written by Manfred Hübner | 15 September 2019
Posted in sentix Weekly

The smart money is still holding back

While the US equity market, measured by the S&P 500, is already close to its all-time high again, "smart" large-scale investors have so far been very reluctant to buy. This is measured by the “Smart Money Flow Index”. Noteworthy in this index are divergences from the price trend. Thus, the SMFI fell significantly from spring onwards before the downturn in Q4 2018. There is also a (small) divergence at the current edge. The basic confidence is apparently lacking.

The Bund yield curve should become steeper

Written by Manfred Hübner | 10 September 2019
Posted in sentix Weekly

In the run-up to the upcoming ECB meeting on 12 September, the sentix economic indices are sending an interesting signal for German government bonds. For this purpose, we consider the difference between expected values and situation indices for the economy in Germany and the Euro zone.

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sentix Survey results (36-2019)

Written by Manfred Hübner | 08 September 2019
Posted in sentix Weekly

Gold bias continues to tip over

Over the past twelve months, investors' investment behaviour in gold has changed significantly. The lowest position since 2007 has become one of the highest gold ratios in investor portfolios. This position building was supported by a positive perception of value on the part of investors. However, this has already weakened significantly in recent weeks. This should lead investors to think about profit taking.