Neuer Kompendiumsbeitrag: sentix Market Profiles

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Wir haben den Kompendiumsbeitrag zu den sentix Market Profiles überarbeitet und erweitert. Klicken Sie hier für die aktuelle Version.

Neuer Kompendiumsbeitrag: sentix Overconfidence Index

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Wir haben den Kompendiumsbeitrag zum sentix Overconfidence Index überarbeitet und erweitert. Klicken Sie hier für die aktuelle Version.

Neuer Kompendiumsbeitrag: sentix Euro Break-up Index

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Wir haben den Kompendiumsbeitrag zum sentix Euro Break-up Index (EBI) überarbeitet und erweitert. Klicken Sie hier für die aktuelle Version.

Euro-zone expectations drop despite Draghi

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For the euro zone the sentix Economic Index (composite index) drops markedly in June. This is its second decrease in a row. Investors judge the current situation much worse than in the previous month, and their 6-monthexpectations also decline. The clear setback of the euro-zone index surprises as, in June, investors assess the economic conditions for the remaining world regions as better than before. It is mainly the emerging markets for which their sentiment brightens. The euro-zone indicators' decrease all the more comes as a surprise as the European Central Bank has just announced a whole package of new measures to push economic growth and inflation. But investors so far do not see this aspect of the ECB's policy while they do expect strong effects on the bond market, as complementary sentix data show. 

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sentix ASR Essentials 20-2014

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ECB relieves uncertainty overhanging Equity sentiment

The latest Sentix survey provides a timely view of investor opinion in the wake of the ECB's announcement of a raft of unconventional measures to support the economy and meet its inflation targets. On the Eurozone bond front, investors have become relatively neutral on the near-term outlook for Bunds, but optimism remains high-end on the medium-term. This chimes with survey readings that indicate that survey participants view economic developments as having become less bondbearish in the medium-term (Chart 2, page 2). Perhaps the more notable sentiment impact has been for equities, with medium-term sentiment on EuroSTOXX pulling further away from recent lows, in the wake of a sharp decline in investor uncertainty on the 6M outlook, as gauged by the Neutrality index (Chart 7, page 3).

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