sentix ASR Essentials 50-2015

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.

Click here for the full report

sentix ASR Essentials 49-2015

Written by Patrick Hussy | 06 December 2015
Posted in sentix Weekly

Macro optimism challenges medium-term positivity on Bunds

The latest sentix survey was set against a backdrop of markets that were digesting disappointment on ECB stimulus, along with OPEC news and robust US payrolls data. The most notable result was a big improvement in sentiment on Euro versus US Dollar, though survey readings are still only back to relatively neutral levels. On the other side of the sentiment divide, near-term sentiment towards Bunds has deteriorated. This chimes with the December sentix Economic Index for the Eurozone which revealed a further improvement in the headline index (+0.6 to +15.7), as well as survey readings that indicate ‘economics’ is seen a becoming more bond bearish as an ‘investment theme’. Macro views may provide a challenge to investors’ more positive opinion on Bunds from a medium-term strategic perspective. See Page 2 for charts.

Click here for the full report

No ECB money, no funny

Written by Manfred Hübner | 06 December 2015
Posted in sentix Economic News

Economic expectations for the Eurozone continue to rise contrary to the global trend. Amid slightly lower growth in global economic momentum, the Eurozone stands out. Explanations should be found in the latest ECB statement. The December round of ECB stimulus felt short of expectations, however, the embracement of ECB’s “whatever it takes massage” has worked yet again. Without more ECB stimulus the Eurozone would most likely be in accordance to the global outlook.

The “Fixit” lines up for the “Exit” ensemble

Written by Julien Mueller | 30 November 2015
Posted in sentix Euro Break-up Index News

The sentix Euro Break-up Index (EBI) increases slightly in November. Following months of significant easing, the latest survey shows that 11.7% of respondents consider a break-up of the Eurozone within the next six months as likely. The list of mentioned “exit” candidates reaches an alarming level. Prospects of a possible Finnish referendum brings a “Fixit” into play.

sentix Investmentmeinung 48-2015

Written by Manfred Hübner | 30 November 2015
Posted in sentix Weekly

There are no translations available.

Santa Mario lässt Anlegerherzen höher schlagen

Was in den Köpfen eines Notenbankers vorgeht, entzieht sich unserer Vorstellungskraft. Was in den Köpfen der Anleger vorgeht, ermitteln wir dagegen recht genau. Und da tut sich einiges. Das Belohnungszentrum der Anleger wird von den „Möglichkeiten“, welche die EZB hat oder zu haben scheint, schon vor Vollzug konkreter Maßnahmen kräftig stimuliert. Bekanntlich ist die Vorfreude die schönste aller Freuden. Bleibt nur zu hoffen, dass Santa Mario auch wie versprochen liefert. Denn nach der EZB-Sitzung dürfte es an Freudennachrichten eher wieder mangeln.

Geänderte Einschätzung: Alle Aktienmärkte, EUR-USD

Klicken Sie hier für die aktuelle Investmentmeinung (sentix Registrierung erforderlich)