Written by Manfred Hübner | 27 December 2017
Posted in sentix Euro Break-up Index News

The euro-zone ends 2017 in a stable state. Although the regional elections in Catalonia did not bring about any change in the status quo of Catalonia's autonomy issue, investors see no reason to draw negative conclusions for the euro zone. The sentix Euro Break-up Index rose only marginally from 7.91% to 8.35%. The sub-index for Spain rose from 0.63% to 1.24%. That's not a critical level yet.

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Written by Patrick Hussy | 24 December 2017
Posted in sentix Weekly

We wish all highly esteemed survey participants and all our customers a blessed Christmas.

Written by Patrick Hussy | 18 December 2017
Posted in sentix Weekly

Vola ante portas

16 Jahre ist es her, seitdem die kurzfristige Neutralität für deutsche, aber auch für europäische Aktien so hoch war. Die Anleger treten an die Seitenlinie und warten auf das nächste Signal. Dies muss sich nicht zwingend positiv oder negativ auflösen. Fest steht, neben dem Christkind steht auch ein frischer Vola-Impuls vor der Tür!

Geänderte Einschätzungen: DAX

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Written by Patrick Hussy | 17 December 2017
Posted in sentix Weekly

Historically high neutrality points to risk of rise in equity volatility

The latest sentix survey revealed that the recent turnaround in sentiment towards eurozone bonds versus equities is continuing as the festive period draws near, while at the same time investors’ medium-term strategic bias on the EuroSTOXX continues to weaken. In terms of near-term equity sentiment, survey readings are running at modestly positive levels. However, beneath the surface, investors’ neutrality on the near-term outlook for the EuroSTOXX index has reached historic highs. This chimes with historically low levels of implied market volatility, as measured by the VSTOXX Index. It suggests potential for a pick-up in equity volatility as markets move into next year. See charts 2-4, p2.

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Written by Manfred Hübner | 13 December 2017
Posted in Special research

In summer 2007, the world of investors was still in order. Equities should rise, interest rates should also rise - and problems such as the looming subprime crisis are best ignored. This recipe for success proved to be a capital failure. Are investors currently making another historic mistake? The danger that show the sentix overconfidence indices, exists at least.

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