sentix Investmentmeinung 31-2017

Written by Manfred Hübner | 07 August 2017
Posted in sentix Weekly

There are no translations available.

Euro vor Gewinnmitnahmen

Die Währungsmärkte stehen weiter im Fokus. Besonders trifft dies auf den Euro zu, der sich in den letz-ten Wochen stark befestigt hat. Die Erwartungen einer baldigen beherzten Zinswende der EZB stehen mit Blick auf die sentix Konjunkturindizes und die Themenbarometer jedoch auf relativ wackeligen Beinen. In Verbindung mit einer Abschwächung im Strategischen Bias sowie der deutlichen Euro-Longpositionierung der Anleger ergibt sich eine Chance auf eine Euro-Abschwächung.

Geänderte Einschätzungen: EUR-USD, US-Bonds

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sentix ASR Essentials 31-2017

Written by Patrick Hussy | 06 August 2017
Posted in sentix Weekly

Inflation expectations still benefitting bunds

Investor pessimism on Bunds has receded in the past couple of weeks, while survey respondents are also becoming less negative on Bunds from a medium-term strategic perspective, with survey readings much less downbeat than they were at the start of this year (see Chart 9, page 4). Monthly questions on bond ‘themes’, suggest investors view inflation as a much less Eurozone bond-bearish theme than it was coming into 2017. In contrast, economics is still seen as a notably bearish theme for bonds. While inflation expectations appear to be continuing to win out over bond concerns over economics as a theme, it may still leave bunds at risk from any signs that inflation is not as benign as believed. See Page 2 for charts.

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The economy is going through the zenith

Written by Manfred Hübner | 06 August 2017
Posted in sentix Economic News

The sentix economic indices are regarded as the "first mover" of the economic early indicators. These indexes have often been the first to show the turning points of economic dynamics. Therefore, the current values of the August survey among more than 1,000 investors make you listen. Around the world, expectations are dropping, led by the US with the fifth consecutive decline! Trump works, but other than desired by him. The German model boy also loses a lot of speed. The scandal surrounding the car industry has the potential to become an economic mood killer.

Stabilized Eurozone

Written by Patrick Hussy | 31 July 2017
Posted in sentix Euro Break-up Index News

During the silly season, political topics are scarce goods in Euroland. In fact, awareness is completely focused on the stabilization of the Euro. This is an indication for investors that the Eurozone solidarity is increasingly stable. In this environment, the Euroland overall index of the sentix Euro break-up index has hardly changed. Its marginal adjustment in July from 8.6% to 8.9% shall not be interpreted turn around or warning signal, but rather is due to its meanwhile low value. This can also be seen in low values of measured exit risks of individual Eurozone countries.

sentix Investmentmeinung 30-2017

Written by Patrick Hussy | 31 July 2017
Posted in sentix Weekly

There are no translations available.

Der Charme der Diskrepanz

Die Anleger haben Respekt vor der saisonal schwachen Aktienmarkt-Phase, die ab August beginnt. Dementsprechend trägt das Sentiment pessimistische Züge. Trotzdem erkennen die Anleger auch, dass über diese Zeit hinaus gedacht Chancen im jüngsten Kursrückgang europäischer Aktien liegen. Doch die Ängste überwiegen und führen insbesondere bei den Investmentprofis zu einer deutlichen Unterinves-tierung. Diese Diskrepanz versprüht den Charme eines konträren Einstiegs.

Geänderte Einschätzungen: DAX, EuroSTOXX50 sowie Rohöl

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