sentix ASR Essentials 04-2015


Near-term optimism on DAX and ESTOXX hits the heights

Last week’s ECB announcement appears to have bolstered already high optimism towards European equity indices such as the DAX and EuroSTOXX. The latest sentix survey indicates that near-term sentiment towards both indices is now not far from historic highs (see Chart 2, page 2), while readings based on participants’ mediumterm strategic bias are also heading ever-higher. Indeed, monthly questions covering investors’ positioning also indicate there has been a sharp increase in overinvestment in equities versus the longer-term average level. In short, optimism on eurozone equities has reached the high-end of the historic range, with Sentix Neutrality indicators suggesting there is also little uncertainty among survey respondents on the near and medium-term outlook.

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