sentix-Analyse Februar 2015 im DAF

Written by Manfred Hübner | 10 February 2015
Posted in sentix Intern

There are no translations available.

sentix-Analyse im Deutschen Anlegerfernsehen Gestern war sentix-Geschäftsführer Manfred Hübner zu Gast im Deutschen Anlegerfernsehen. Im Gespräch mit Viola Grebe erläuterte er u.a. die neuesten Ergebnisse des sentix Konjunkturindex und die aktuelle Stimmungslage.

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Euro area with a 9-year-high, Switzerland in recession

Written by Sebastian Wanke | 09 February 2015
Posted in sentix Economic News

In February the composite indices for the euro zone and Germany both rise strongly. Against the background of the details given by the ECB on its coming QE programme 6-month expectations climb to their highest reading since February 2006 for the euro zone. For Germany the composite index even reaches an all-time high. The weak euro and the low price of oil may also have helped (as in the previous months). But this positive development also has a flipside: The weakness of the euro has led the Swiss National Bank (SNB) to give up on its de-facto peg to the common currency. By doing so, the SNB has sent the Swiss economy into recession – that is at least what the sentix Economic Index for Switzerland says as it collapses this month. For the “Global Aggregate” the composite index increases for the fourth time in a row because of the improvements for the euro zone and for Japan. At the same time, the slight setback for the US might be an indication that the US economy has peaked already in the current cycle.

sentix ASR Essentials 06-2015

Written by Manfred Hübner | 08 February 2015
Posted in sentix Weekly

Economic optimism tempers Bond enthusiasm

The latest Sentix survey points to still improving economic expectations for the eurozone and Germany (with the sentix German Expectations indicator reaching record highs this month). However, good news on economic expectations may be bad news for eurozone bonds. A growing belief in a brighter economic outlook for Germany and the Eurozone appears to be tempering survey respondents’ enthusiasm for Bonds. Survey readings indicate that economics as a ‘bond topic’ has become markedly less bond-bullish on a six month view (see Chart 3, page 2). Bonds may be trending higher, but improving macro views appear to be tempering investors’ enthusiasm for Eurozone bonds in the medium-term.

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Ein unverkrampfter Blick nach Griechenland

Written by Manfred Hübner | 05 February 2015
Posted in Woolly thoughts (blog)

There are no translations available.

Schuldenschnitt ja oder nein? Euro-Austritt ja oder nein? Europa im Wandel oder in der Katharsis? Die neu gewählte griechische Regierung hat zwar noch nichts geleistet. Dennoch wirbelt sie Europa gehörig auf. Und das ist gut so! Denn die bisherige Rettungspolitik hat keine nachhaltige Lösung gebracht. Die Eurozone steht vor einer wegweisenden Entscheidung.

sentix ASR Essentials 05-2015

Written by Manfred Hübner | 01 February 2015
Posted in sentix Weekly

A change of tack on Eurozone versus US Equities?

The latest sentix survey points to an interesting divergence of opinion on Eurozone and US Equity markets. In the case of the DAX Index, investors have become a little less optimistic on the near-term outlook, but remain highly positive from a mediumterm strategic bias perspective. They are also continuing to warm to the mediumterm prospects for the Euro versus the US Dollar. However, in the case of the US market, the past couple of weeks have seen medium-term survey readings on the S&P 500 modestly reverse (see Charts 2 and 3, page 2). It appears that investors are beginning to view Eurozone equities in a more favourable light than their largecap US peers.