12 March 2017
Posted in sentix Weekly
Extreme pessimism emerges on Energy
The latest sentix survey suggests investors’ views on the medium-term outlook for equities continue to become more negative. At the same time, at a sector level pessimism on more defensive sectors such as Food & Beverage and Healthcare is continuing to lessen. This sentiment upturn has been set against increased caution on Basic Resources and Energy. The change of tack has been especially notable in the case of Energy versus the market, with survey readings dropping to historic lows this month. This chimes with pessimism on Crude Oil that has reached twelvemonth extremes. Energy is deeply unloved in an equity and commodity context. See page 2 for charts.