Alibaba opens IPO investors’ eyes

Written by Sebastian Wanke | 15 September 2014
Posted in Special research

The current sentix Global Investor Survey shows a remarkable development: sentix IPO Senti-ent rises strongly for the first time this year. The improvement of the indicator takes place against the backdrop of the coming US-IPO of Alibaba, a Chinese internet company. This event obviously also has an influence on European investors and lets their readiness to take on new issues rise.

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sentix ASR Essentials 34-2014

Written by Manfred Hübner | 14 September 2014
Posted in sentix Weekly

Mind the sentiment gap between Emerging Markets & Commodities

The latest sentix survey throws up an interesting divergence in opinion on the Emerging Markets (EMs) and Commodities. While the tide of optimism continues to rise in the case of markets such as China, sentiment has turned sharply negative on Commodities such as Crude and Gold (see Charts 2-4 on Page 2). This appears odd given sentiment towards both asset classes has historically had a reasonably close relationship. The extent of the current sentiment gap between EMs and Commodities suggests the relationship may be beginning to break down.

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Euro-zone index collapses again – despite Draghi

Written by Sebastian Wanke | 08 September 2014
Posted in sentix Economic News

Despite the new measures taken by the European Central Bank (ECB) last Thursday the composite index for the euro zone collapses. It falls from +2.7 to now only -9.8 points. As both, the assessment of the current situation and investors' 6-month expectations, now have reached negative territory, the indicator signals a new recession for the euro area! This is all the more noteworthy as during Mario Draghi's presidency the ECB has managed on several occasions to turn round investors' economic expectations. Now, this does not seem to work anymore. In this context it is interesting to know that 6-month expectations of the global aggregate have fallen to their lowest level since November 2012, the time when Japan started its "Abenomics" and managed to influence investors' expectations positively. But obviously central banks have currently – against the backdrop of a number of geopolitical conflicts – lost their power to steer investors' economic expectations.

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sentix ASR Essentials 33-2014

Written by Patrick Hussy | 07 September 2014
Posted in sentix Weekly

ECB moves further undermine Euro sentiment

The latest Sentix survey provides a timely view of investor sentiment following last week's ECB policy moves. Initially, at least, they have been taken well by equity markets, with both near and medium-term sentiment readings for the EuroSTOXX also continuing to edge higher (see Page 3). In the case of Eurozone bonds, investors appear more equivocal on the medium-term outlook, though they view economic developments as becoming more bond-supportive (Chart 2, page 2). On the other side of the sentiment divide, however, survey participants have become even more downbeat on the outlook for the single currency. Pessimism on the nearterm prospects for Euro versus USD has returned to historic lows, while pessimism on the medium-term remains in the ascendancy (Charts 3 and 4, page 2).

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sentix ASR Essentials 32-2014

Written by Patrick Hussy | 31 August 2014
Posted in sentix Weekly

Persistent pessimism on the Euro versus USD

European assets have been at the centre of some notable summer sentiment setbacks. The latest sentix survey indicates that investor pessimism on the nearterm outlook for Eurozone equities and the single currency has become less notable, with readings pulling back from the extremes reached in the past month (see Chart 2). However, while the latest survey suggests that medium-term sentiment towards European equities may be beginning to revive, albeit modestly, the path of Euro/USD sentiment remains firmly downwards (Chart 4, page 2). Investors remain deeply pessimistic on the outlook for the Euro from a strategic perspective.

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