Little fear despite disappointment

Written by Julien Mueller | 12 September 2016
Posted in Special research

Investors sentiment towards German government long bonds chills. EZB’s preliminary decision not to expand monetary policy disappoints investors. However, fear among market participants such as in April/May 2015 is not present, yet.

sentix ASR Essentials 36-2016

Written by Patrick Hussy | 11 September 2016
Posted in sentix Weekly

A less positive strategic bias on US equities

A couple of interesting angles on equities emerge from the latest sentix survey. At a market level, while survey participants are becoming more positive on eurozone equity indices from a medium-term strategic perspective, they also appear to becoming more cautious on the US. In contrast to survey participants’ views on the DAX and EuroSTOXX, strategic bias readings on the S&P 500 have begun to retreat from recent highs. At a sector level, the latest survey also revealed that investors are becoming less pessimistic on Banks versus the market, even though they have become more downbeat on Financial Services and Insurance, while at the other end of the sentiment spectrum, investors have also become a little less positive on the relative outlook for Basic Resources. See page 2 for charts.

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sentix Switzerland and sentix Austria

Written by Manfred Hübner | 11 September 2016
Posted in sentix Intern

schweiz austria Because of the new sentix survey we can now offer new sentix time series for Switzerland and Austria!

Starting today, we are expanding the sentix database to indices for the following markets:

Austrian equities (large caps) / ATX
Swiss equities (large caps) / SMI
EUR-CHF exchange rate

For these markets the full range of sentix indicators is provided:

sentix Sentiment
sentix Strategic Bias
Neutrality Index
Overconfidence Index
Time Differential Index

Please note that charts only from the 16.9. onwards will be displayed because at least two data points are required.

Data on economic activity in Switzerland and in Austria have long been available by the sentix economic indicators.

For questions and comments please contact us.

sentix Investmentmeinung 35-2016

Written by Patrick Hussy | 05 September 2016
Posted in sentix Weekly

There are no translations available.

Wiederholt sich die Geschichte am Goldmarkt?

Wir haben in der vergangenen Woche ausführlich zu Gold Stellung bezogen. In der aktuellen Wochenumfrage haben sich die Vorzeichen für das gelbe Edelmetall nochmals verschlechtert: Der Strategische Bias hat um 5 Prozentpunkte abgegeben, das Sentiment um 8 Prozentpunkte. Wir messen im Stimmungsbild keinerlei Angst, dass etwas schiefgehen könnte, obwohl die Anleger satt in Edelmetallen investiert sind (gem. COT Report). In der abgelaufenen Woche sind wir zudem auf ein Mediensignal aufmerksam geworden. Dass dies eine außergewöhnliche Beobachtung ist, erschließt sich am gewählten Titel des Magazins.

Geänderte Einschätzungen: Gold und S&P 500

Klicken Sie hier für die aktuelle Investmentmeinung (sentix Registrierung erforderlich)

sentix ASR Essentials 35-2016

Written by Patrick Hussy | 04 September 2016
Posted in sentix Weekly

Economic expectations bad for Bunds, but good for Chinese equities

The latest sentix survey underlines the continued interplay between macro and market expectations. In the case of the Eurozone (EZ), the sentix Economic Expectations Index further improved, rising from +4.8 to +6.8 in September. At a market level this improvement has meant economics have become a less bullish theme for EZ bonds over the last couple of months. Economic expectations are more elevated on Asia ex-Japan, with the region’s expectations index hitting its highest level since May 2015. This chimes with the continued improvement in survey readings based on investors’ medium-term strategic bias on Chinese equities. Improving expectations on the economy are supporting investors’ constructive views on Chinese equities medium-term strategic outlook (see Page 2 for charts).