sentix policy barometer: Trump disturbs - and benefits

Written by Manfred Hübner | 15 March 2018
Posted in Special research

Anyone who thought that after the Italian parliamentary elections there would be calm on the political front is mistaken. Elections and the euro crisis have indeed faded into the background for investors, even though it is far from easy to form a government in Italy. Instead, the fire head on the other side of the Atlantic is making headlines again and is unsettled with protectionist slogans. For Trump himself, however, this seems to be paying off.

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Institutional investors without clear equity positioning

Written by Manfred Hübner | 27 February 2018
Posted in Special research

Professional investors are paid to outperform by clearly positioning themselves against their benchmark. However, many institutional investors are currently retreating to their benchmarks in the "neutral corner". This is an unusual development and cause of a great disorientation - in the short and medium term.

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A single repetition

Written by Manfred Hübner | 20 February 2018
Posted in Special research

In December last year, we published an unusual data constellation at this point. While the sentix overconfidence in-dex for equities showed an upper extreme, indicating increased risk exposure, the counterpart for US bonds was at a low. The difference between the two observations produced an extreme signal, which had only been reached once before - on the eve of the financial crisis. Now, in February 2018, another such extreme signal is emerging. A unique repetition!

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sentix policy barometer: Stress increases

Written by Manfred Hübner | 12 February 2018
Posted in Special research

In February 2018, according to the investors surveyed by sentix, the pressure on the financial markets from policymakers will noticeably increase again. The sentix policy barometer drops from -0.1 to -0.34 points. The main reasons for this are the tugging around the "brexit", but also the forthcoming elections in Italy.

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Risk appetite for equities reaches all-time high

Written by Manfred Hübner | 24 January 2018
Posted in Special research

Investors are showing an unprecedented level of risk in their equity exposures. An indicator of this is rather the pre-ferred investment themes and styles than the total equity exposure. Especially stocks in the emerging markets are very popular with investors. Furthermore, investors increasingly see IPOs as a promising investment opportunity. In addition, investors are more and more pro-cyclical.

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