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

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

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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sentix ASR Essentials 50-2015

Written by Patrick Hussy | 13 December 2015
Posted in sentix Weekly

Energy pessimism hits historic extremes

The latest sentix survey points to increased caution on equities, with sentiment back at relatively neutral levels and readings based on investors’ medium-term strategic bias drifting lower (see Charts 5-6, page 3). At a sector level, several areas of the market are prey to even more deeply entrenched pessimism. Investor pessimism is notable on Utilities, Banks and Basic Resources, albeit readings remain above recent lows. Investors appear even more downbeat on the Energy sector versus the market, with monthly survey readings having reached historic lows. This echoes the sharply deteriorating sentiment towards Oil that has followed in the wake of the break lower in Brent Oil below $40 (Charts 3-4, page 2). Energy is deeply unloved.

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