sentix ASR Essentials 02-2018


Bond-sensitive sectors on the back-foot

Deep pessimism on bonds appears to be casting a long shadow across investors’ European sector preferences, with the latest sentix survey pointing to increased pessimism on bond sensitive sectors such as Utilities (which remains survey participants’ least-loved sector) and Telecoms versus the market. This is consistent with the notable relationship between investors’ medium-term strategic bias on bunds and their sentiment towards Telecoms (chart 2, page 2). While pessimism on Bunds is not extreme, sentiment readings have fallen towards the low-end of their historic range. Any bounce in eurozone bonds in the coming weeks may lend some near-term sentiment support to hard-pressed bond-sensitive sectors. See pages 2 and 3 for charts.

Click here for the full report

We use cookies to personalize our content, to auto-login to our website and to improve your experience when using it. Cookies used for the essential operation of the site (authorization, language setting or user-security) have already been set. 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