sentix ASR Essentials 39-2016
|
02 October 2016
Posted in
sentix Weekly
Optimism burning brightly on Oil post-OPEC
Last week provided a couple of notable sentiment twists. On the equity front, nearterm sentiment on eurozone equities was undermined by heightened concerns over Deutsche Bank, though those investors polled continue to hold with their positive view on the outlook for global equities from a medium-term strategic perspective. In commodities, in last week’s review we noted the heightened near-term uncertainty on Crude ahead of the OPEC meeting. In the event, the unexpected OPEC agreement on an output cut resulted in a sharp increase in optimism on the nearterm outlook for Crude Oil, though sentiment readings are still below historic highs. More notably, investors have also become markedly more positive on oil from a medium-term strategic perspective. See charts 2-4, page 2.
