sentix Survey results (33-2026)

Written by Patrick Hussy | 16 August 2026
Posted in sentix Weekly

Gold is captivating investors

Never before in sentix’s history has the underlying medium-term confidence in the yellow precious metal been as high as it is this year. Does this mean the gold price has already reached a dangerous peak of euphoria? We’ll show you two charts that suggest otherwise. The situation regarding shares is slowly becoming significantly riskier. Whilst underlying medium-term confidence continues to rise, the risk assessment is also increasing in parallel.

• Equities: Bias and risk are on the rise
• USD/JPY: OCI warning signal
• sentix sector sentiment

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Warnsignale am Kreditmarkt - Makro-Report - 08.26

Written by Manfred Hübner | 10 August 2026
Posted in Special research

Die Konjunkturerwartungen verbessern sich weiter und liefern insbesondere in Euroland zunehmend Unterstützung für Aktien, auch wenn die Märkte der fundamentalen Entwicklung bereits vorausgeeilt sind. Für Renten ergibt sich aus steigenden Inflationserwartungen und der besseren Konjunktur dagegen ein klarer Zinsanstiegsvektor, verbunden mit Risiken einer steileren Zinskurve. Der Euro erhält dagegen Rückenwind, da sich die relative Konjunkturdynamik gegenüber den USA zugunsten Eurolands verschiebt. Kritisch bleiben die Kreditmärkte, wo sinkendes Interesse an Unternehmensanleihen, eine Präferenz für höhere Bonitäten und die Divergenz bei US-High-Yield-Spreads deutliche Warnsignale senden.

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sentix Survey results (32-2026)

Written by Manfred Hübner | 09 August 2026
Posted in sentix Weekly

New all-time highs drive sentiment

On the equity market, sentiment improved abruptly at the start of the new month. A strong price advance to new all-time highs across many markets has shaken investors awake – and driven up sentiment readings. The wave has also caught gold and silver, where we are measuring a sentiment impulse. By contrast, the impulse largely passes Bitcoin by.

Further results

• Precious metals: Gold and silver with a sentiment impulse
• Bitcoin: The risk-on move passes Bitcoin by
• sentix Economic Index: Monday, 10 August 2026, 10:30 CEST

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Ascent number 4

Written by Patrick Hussy | 09 August 2026
Posted in sentix Economic News

The sentix Economic Sentiment Index for the eurozone continued its recovery in August. With its fourth consecutive rise, the overall index improved by 4.0 points to +0.9 points, returning to positive territory. The assessment of the current situation, in particular, rose sharply, whilst expectations rose only slightly to +10.3 points. Germany, too, is showing further progress. Economic expectations have risen to their highest level since February 2026. At the same time, the current situation has improved significantly, though at -28.3 points it remains clearly in negative territory. Globally, the economic outlook remains favourable. The sentix Global Aggregate rose by 1.4 points to +14.7 points, signalling a broad-based economic recovery. Almost all regions are showing growth – Japan is the only exception.

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sentix Survey results (31-2026)

Written by Manfred Hübner | 02 August 2026
Posted in sentix Weekly

Position risks in USD-JPY are materialising

While the comeback of chip stocks drew heavy commentary over the course of the week, investors’ strategic underlying confidence in tech equities shows no reaction. The equity move is ageing. For Chinese equities there is an interesting OCI signal. Gold and gold mining stocks, by contrast, enjoy high underlying confidence. In USD-JPY, considerable positioning risks are now coming to a head.

Further results

• Equities: The recovery is ageing
• Equities: China rather than the US
• Gold & gold mining stocks: High investor confidence

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