sentix Survey Essentials (English)

Going for Gold

The latest Sentix survey reflects increasing optimism on both the near and mediumterm outlook for global equities, set against a less upbeat view on the prospects for bonds. Indeed, in an equity market context, participants have modestly curbed their optimism on the six month prospects for defensive sectors such as Healthcare, though sentiment towards cyclicals is still down from historic highs (see Page 2). At the same time, survey participants are also increasingly upbeat on commodities, with medium-term readings on Crude Oil continuing their Q2 revival and Gold readings reaching their highest level since 2009 (Page 2), though the more meanreverting short-term sentiment measure on Gold remains shy of historic extremes.