sentix ASR Essentials 46-2015
|
15 November 2015
Posted in
sentix Weekly
Equity sentiment setback yet to undermine medium-term view
The latest sentix survey suggests that while investors have become more cautious on the near-term outlook for equities, their faith in a brighter medium-term outlook has not been shaken. While near-term sentiment readings on the likes of the DAX and EuroSTOXX continue to pull back from recent highs, readings based on investors’ medium-term strategic bias are actually improving. Monthly questions on sector preferences paint a similar picture. Investors have become more cautious on resource plays and more optimistic on defensives such as Food & Beverage and Healthcare (see Charts 2-3, page 2). But the extent of the move over the past month is reasonably modest. Energy readings remain above recent lows and Healthcare well down on 2015 highs. The recent pull-back in markets has not, as yet, materially undermined investors’ views on the medium-term.
