sentix Survey results (37-2026)

Written by Patrick Hussy | 13 September 2026
Posted in sentix Weekly

Sentiment buy signals, robust bias, but positioning

Sentiment towards equities has deteriorated significantly once again in a very short space of time. For example, DAX sentiment has fallen to -35 percentage points, whilst the bias remains robust. Consequently, the time differential index has fallen to -48 percentage points – almost as low as in March 2026. The statistics are generating a series of buy signals. However, the quality of these signals is not entirely comparable. The investment ratios are too high for this. For bonds, counter-cyclical signals are on the rise. In addition to overconfidence, sentiment is also taking a toll. But how should this be assessed?

Further results

• Bonds: Low sentiment, high levels of overconfidence
• Gold mining shares: Extreme optimism
• sentix sector sentiment

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Positive Dynamik in Euroland un Deutschland - Makro-Report - 09.26

Written by Manfred Hübner | 07 September 2026
Posted in Special research

In Euroland und auch in Deutschland hat sich die konjunkturelle Einschätzung verbessert. Und dies so nachhaltig, dass sie sowohl positiv auf die Aktienmärkte als auch belastend auf die kurzfristigen Zinsen einwirkt. Im Gegensatz dazu enttäuscht die konjunkturelle Dynamik in den USA. Noch scheint dies kein „show stopper“ für den Aktienmarkt zu sein, allerdings senden die Kreditmärkte erste, ernstzunehmende Warnsignale. Auch Anleger am Devisenmarkt sollten mit Blick auf EUR-USD den sentix Konjunkturindizes Aufmerksamkeit schenken.

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sentix Survey results (36-2026)

Written by Manfred Hübner | 06 September 2026
Posted in sentix Weekly

Underlying confidence continues to rise

Investors remain cautious on equities in the short term, while medium-term underlying confidence continues to rise – a fundamentally positive signal for German equities as well. Support could also come from euroland bonds. Among precious metals, gold remains well supported, while silver stands out in particular on account of its still low positioning.

Further results

• Euroland bonds: Negative sentiment, statistical opportunities
• Silver: High underlying confidence, positioning lags behind
• sentix Economic Index: Monday, 7 September 2026, 10:30 CEST

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Germany is picking up speed

Written by Manfred Hübner | 05 September 2026
Posted in sentix Economic News

According to the sentix economic indices, the German economy is in surprisingly good shape at the start of Sep-tember. The business climate index has risen by a substantial 11.5 points to its highest level since May 2023. The eurozone is also benefiting from the recovery of the eurozone’s largest economy. The sentix Overall Economic Index stands at +5.1 points, its highest level since February 2022. That’s the fifth consecutive rise! Eastern Eu-rope is also showing signs of recovery. Here too, the Overall Index has risen for the fifth time in a row.

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Konsolidierungs-Signale - Risiko-Report 08.26

Written by Manfred Hübner | 31 August 2026
Posted in Special research

Der DAX bleibt trotz neuer Rekordstände sentimentseitig auffallend unaufgeregt, während die markttechnische Überdehnung und die steigende Positionierung der Anleger erste moderate Risikosignale senden. Besonders professionelle Investoren legen ihre sommerliche Zurückhaltung zunehmend ab, ohne dass daraus bislang ein entscheidender Belastungsfaktor entsteht. Deutlicher haben sich die Risiken bei Gold verschoben: Die Rallye ist inzwischen in höheren Portfolioquoten und sehr guter Stimmung angekommen, was eine Konsolidierung wahrscheinlicher macht. Am US-Bondmarkt bleibt die extreme Absicherung der Anleger dagegen ein Sonderfall.

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