sentix ASR Essentials 14-2016

Written by Manfred Hübner | 10 April 2016
Posted in sentix Weekly

Backing away from Banks; still running with Real Estate

The latest sentix survey points to increased pessimism on the near-term outlook for eurozone (EZ) equities. This chimes with a reversal in opinion on the prospects for the Banks sector, based on the latest monthly questions on investors’ views on the medium-term outlook for sectors relative to the European market. After a brief respite in March, investors’ pessimism on Banks versus the market has returned to the fore this month, with sentiment readings dropping back to the low-end of their historic range. However, this does not appear to be part of a wider upsurge in sector risk aversion. Survey readings on Food & Beverage were little changed versus a month ago, while despite a modest pick-up over the month, Healthcare sentiment is still well down on last year’s highs. Based on the latest survey findings, investors are most optimistic on Real Estate versus the market. See p2 for charts.

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sentix Investmentmeinung 13-2016

Written by Manfred Hübner | 05 April 2016
Posted in sentix Weekly

There are no translations available.

Öl impliziert neue Aktienrisiken

Seit Mitte Januar haben sich die Rohölpreise deutlich erholt. Das hat an den Aktienmärkten zu einer Kurser-holung beigetragen. Ein neues, positives Kapitalmarktumfeld wurde dadurch jedoch nicht geschaffen. Der strategischen Aktienmarkt-Bias dümpelt an der Null-Linie, von Kaufneigung ist wenig zu spüren. Das einzige was steigt, ist die gemessene Unsicherheit. Nun zeigen sich deutliche Anzeichen dafür, dass die Öl-Erholung ausläuft. Wie werden die Aktienmärkte darauf reagieren?

Geänderte Einschätzung: DAX, EuroSTOXX 50, S&P 500

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sentix ASR Essentials 13-2016

Written by Patrick Hussy | 03 April 2016
Posted in sentix Weekly

Macro expectations bolster bias for US versus EZ Equities

The latest sentix underlines the continued interplay between macro and markets. On the equity front, a feature of recent surveys has been investors’ more positive medium-term strategic bias on US equities versus the Eurozone (EZ). This chimes with some relative improvement in economic expectations for the US relative to the Eurozone. US values in April’s sentix Economic Index improved considerably again, with current situation and expectation values gaining +5 index points respectively. The overall US sentix Economic Index rose to 14.5 as compared to 5.7 for the Eurozone. Macro expectations appear to be bolstering investors’ strategic bias for US equities over Eurozone. On the Eurozone bond front, however, the latest sentix survey also indicates that economic developments have become a less bullish theme for bonds. See Page 2 for charts.

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US-Comeback

Written by Manfred Hübner | 03 April 2016
Posted in sentix Economic News

The process of economic stabilization of investors expectations has continued at the beginning of April. The sentix index of general business confidence for the Eurozone increases marginally to +5,7 points. Thus, lagging behind the consensus of economists questioned by Bloomberg, which expected an increase to +7 points. In contrast, the US economy stands out positive in April. Investors believe that economy is back in upswing territory. For Japan, primary the current situation values deteriorate.

sentix Investmentmeinung 12-2016

Written by Manfred Hübner | 29 March 2016
Posted in sentix Weekly

There are no translations available.

Ein goldiges Signal

Gold gehört in 2016 bislang zu den am besten rentierenden Anlagen. Seit rund zwei Wochen konsolidiert jedoch das gelbe Edelmetall. Hat Gold an den „Iden des März“ etwa sein Hoch markiert? Ein Blick auf die sentix-Daten zerstreut jedoch derlei Bedenken, denn im sentix Time Differential Index messen wir ein Allzeit-Tief – und dies ist ein positives Zeichen.

Geänderte Einschätzung: keine