02 April 2017
Posted in sentix Weekly
High underlying uncertainty on eurozone equities
The latest sentix survey underlines investors’ deeply negative medium-term strategic bias on equity markets in Europe, Japan and the US. In the case of the US, strategic bias readings on the S&P 500 are not far from historic lows. While optimism on the near-term outlook for indices has increased in the last couple of weeks, it has done nothing to shake investors’ downbeat convictions on the medium-term. At the same time, sentix neutrality indices suggest a high degree of underlying uncertainty on the medium-term outlook for eurozone indices such as the DAX and EuroSTOXX. Taken together this suggests potential for a pick-up in volatility as Q2 unfolds. See Charts p2.