sentix Survey Essentials (English)

ECB relieves uncertainty overhanging Equity sentiment

The latest Sentix survey provides a timely view of investor opinion in the wake of the ECB's announcement of a raft of unconventional measures to support the economy and meet its inflation targets. On the Eurozone bond front, investors have become relatively neutral on the near-term outlook for Bunds, but optimism remains high-end on the medium-term. This chimes with survey readings that indicate that survey participants view economic developments as having become less bondbearish in the medium-term (Chart 2, page 2). Perhaps the more notable sentiment impact has been for equities, with medium-term sentiment on EuroSTOXX pulling further away from recent lows, in the wake of a sharp decline in investor uncertainty on the 6M outlook, as gauged by the Neutrality index (Chart 7, page 3).