sentix ASR Essentials 50-2015

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Written by Patrick Hussy | 13 December 2015
Posted in sentix Weekly

Energy pessimism hits historic extremes

The latest sentix survey points to increased caution on equities, with sentiment back at relatively neutral levels and readings based on investors’ medium-term strategic bias drifting lower (see Charts 5-6, page 3). At a sector level, several areas of the market are prey to even more deeply entrenched pessimism. Investor pessimism is notable on Utilities, Banks and Basic Resources, albeit readings remain above recent lows. Investors appear even more downbeat on the Energy sector versus the market, with monthly survey readings having reached historic lows. This echoes the sharply deteriorating sentiment towards Oil that has followed in the wake of the break lower in Brent Oil below $40 (Charts 3-4, page 2). Energy is deeply unloved.

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