sentix Survey Essentials (English)

Heightened investor uncertainty on the near-term outlook

The latest sentix survey suggests that while investors remain relatively positive on the outlook for equities from a medium-term strategic perspective, they have become markedly more uncertain about the near-term outlook. Across the indices covered by the survey, near-term neutrality indices have headed towards the highend of their two year range (Chart 7, page 3). This chimes with survey questions looking at investors’ positioning which indicate that the level of over-investment in equities has declined in the past month (Chart 3, page 2). However, heightened neutrality is also a feature on Bunds (Chart 10, page 4). Growing investor uncertainty on the near-term outlook encompasses both equities and bonds.