05 July 2015
Posted in
sentix Weekly
Neutral stance ahead of referendum
Ahead of the Greek referendum investors take a neutral stance over the short term. This is understanda-ble but does not fit with their basic conviction. This implies a tendency to act after the Athens decision. US bonds are currently not US in-vestors’ favourite which is also mir-rored in the Strategic Bias for gold. Last but not least, the Greek show-down promises to be a non-event for the euro, at least at time hori-zons beyond the coming weeks.