sentix ASR Essentials 35-2016

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Written by Patrick Hussy | 04 September 2016
Posted in sentix Weekly

Economic expectations bad for Bunds, but good for Chinese equities

The latest sentix survey underlines the continued interplay between macro and market expectations. In the case of the Eurozone (EZ), the sentix Economic Expectations Index further improved, rising from +4.8 to +6.8 in September. At a market level this improvement has meant economics have become a less bullish theme for EZ bonds over the last couple of months. Economic expectations are more elevated on Asia ex-Japan, with the region’s expectations index hitting its highest level since May 2015. This chimes with the continued improvement in survey readings based on investors’ medium-term strategic bias on Chinese equities. Improving expectations on the economy are supporting investors’ constructive views on Chinese equities medium-term strategic outlook (see Page 2 for charts).

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