sentix ASR Essentials 49-2016
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11 December 2016
Posted in
sentix Weekly
Near-term optimism hits historic highs as Fed meeting looms
The latest sentix surveys suggests near-term optimism on equity markets globally has reached extremely elevated levels (see Chart 1), heading into a week that could see the Fed tighten policy for the first time since last December. In a European context, sentiment has likely been bolstered by growing investor optimism on Banks and cyclical sectors such as Basic Resources. However, at an asset level, it is also notable that survey respondents have become a little less downbeat on the medium-term outlook for bonds. Indeed, the gap between medium-term strategic bias readings on Bunds versus the EuroSTOXX has begun to reverse from recent lows. High optimism on equities may steal the near-term sentiment spotlight, but opinions on the medium-term outlook for markets are also worth watching. See page 2 for charts.
