sentix ASR Essentials 01-2016

Written by Patrick Hussy | 10 January 2016
Posted in sentix Weekly

China sentiment cracking

The latest sentix survey underlines the degree to which equity markets are in the grip of heightened near-term investor pessimism, with sentiment readings on eurozone, US and Asian markets sharply reversing. Chinese market developments have played a prominent role in unnerving investors. It is no surprise, therefore, that survey respondents have become especially downbeat on Chinese equities from both a near-term and medium-term strategic perspective, especially in light of weakening expectations on the economic outlook for China and the Asia ex-Japan region. Investors’ strategic bias on the Chinese market is as negative as it has been since the market began being covered by sentix in Q4 2009. On the other side of the sentiment divide, investors caution on riskier assets appears to be leading to growing optimism on Gold. See Page 2 for charts.

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sentix Investmentmeinung 53-2015

Written by Manfred Hübner | 04 January 2016
Posted in sentix Weekly

Kalte Dusche zum Jahresauftakt

Die Märkte enttäuschen die Anleger. Obwohl die Grundüberzeugung der Anleger zu Aktien seit Wochen fällt, wirkt der Kursverlust zum Jahresstart wie eine kalte Dusche. Willkommen im Jahr 2016, dem Jahr, in dem „Risikomanagement wieder eine Bedeutung erlangt“. Das Grundmotiv unseres Jahresausblicks wird damit sehr früh im Jahr ins Gedächtnis der Anleger gerufen.

Geänderte Einschätzung: Alle Aktienmärkte, Bund-Future, USD-JPY

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sentix ASR Essentials 53-2015

Written by Manfred Hübner | 03 January 2016
Posted in sentix Weekly

New Year ... Old concerns on Equities from strategic bias perspective

The first sentix survey of the 2016 provides some old and familiar messages in terms of investors’ views on markets. Positioning questions late last month revealed that survey participants are running with above average levels of over-investment in eurozone equities, set against modest near-term optimism on markets. However, the latest survey suggests there also remains a high degree of investor pessimism about the medium-term strategic outlook for indices such as the EuroSTOXX, albeit survey readings ticked a little higher over the week (see Charts 2-3, page 2). Coming into 2016, investors appear to remain wary about the medium-term strategic outlook for equities.

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sentix ASR Essentials 52-2015

Written by Manfred Hübner | 27 December 2015
Posted in sentix Weekly

We wish all sentix survey participants, clients and partners a happy new year 2016.

The next report will be publish in January 2016.

sentix ASR Essentials 51-2015

Written by Patrick Hussy | 20 December 2015
Posted in sentix Weekly

No Christmas cheer for Commodities

Caution on the coming year appears to be the dominant theme as the clock ticks down to Christmas. While near-term sentiment towards global equity indices is running at modestly positive levels, the latest sentix survey also suggests investors are becoming less keen on developed and emerging markets from a medium-term strategic perspective. In the case of emerging markets, this chimes with increasing caution on commodities as an asset class. At a market level, pessimism is most marked on Crude Oil, with survey readings entrenched at the low end of the range, albeit they are above historic extremes (Charts 2-4, page 2). Commodity pessimism is bad news for EM Equities, given that sentiment on both remains closely linked.

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