Written by Patrick Hussy | 07 January 2018
Posted in sentix Weekly

Rising tide of equity optimism reaches highly elevated levels

The new year has started on the front foot for developed and emerging market equities, helped by still upbeat macro data and declining uncertainty on the near- term outlook for markets (see chart 7, page 3). In the case of global equities, the dominant near-term theme is now elevated optimism, with sentiment readings on indices in the US, Asia and the eurozone reaching the high-end of their historic range in the first week of 2018. The current highly elevated degree of optimism may be a near-term risk for equities as markets move into Q1. See Page 2 for charts.

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Written by Manfred Hübner | 31 December 2017
Posted in sentix Weekly

Silvester Edition

We wish all our survey participants a prosperous new year 2018!

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Written by Patrick Hussy | 24 December 2017
Posted in sentix Weekly

We wish all highly esteemed survey participants and all our customers a blessed Christmas.

Written by Patrick Hussy | 18 December 2017
Posted in sentix Weekly

Vola ante portas

16 Jahre ist es her, seitdem die kurzfristige Neutralität für deutsche, aber auch für europäische Aktien so hoch war. Die Anleger treten an die Seitenlinie und warten auf das nächste Signal. Dies muss sich nicht zwingend positiv oder negativ auflösen. Fest steht, neben dem Christkind steht auch ein frischer Vola-Impuls vor der Tür!

Geänderte Einschätzungen: DAX

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Written by Patrick Hussy | 17 December 2017
Posted in sentix Weekly

Historically high neutrality points to risk of rise in equity volatility

The latest sentix survey revealed that the recent turnaround in sentiment towards eurozone bonds versus equities is continuing as the festive period draws near, while at the same time investors’ medium-term strategic bias on the EuroSTOXX continues to weaken. In terms of near-term equity sentiment, survey readings are running at modestly positive levels. However, beneath the surface, investors’ neutrality on the near-term outlook for the EuroSTOXX index has reached historic highs. This chimes with historically low levels of implied market volatility, as measured by the VSTOXX Index. It suggests potential for a pick-up in equity volatility as markets move into next year. See charts 2-4, p2.

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