IPE Quest Expectations Indicator: October 2019
There has been a widening of the equity sentiment gap between the euro-zone and the US, and the UK and Japan.
IPE Quest Expectations Indicator: September 2019
Market sentiment has split in two. For the euro-zone and the US, there was a correction that did not affect trends and equities are still favoured. In the UK and Japan, sentiment is moving towards favouring bonds
IPE Quest Expectations Indicator: July 2019
Markets are still driven by political risk and growth prospects. It looks like the two risks are working in the same direction this month.
IPE Quest Expectations Indicator: August 2019
It looks like political risk is taking a back seat to growth this month, continuing last month’s trend.
IPE Quest Expectations Indicator: June 2019
Last months’ move away from political risk continued this month for the US, the EU and Japan. The UK figures were stable or moving slightly in the opposite direction, reflecting worries over Brexit with the UK body politic in disarray.
IPE Quest Expectations Indicator: March 2019
When uncertainty hangs over the financial markets, indices tend to converge. That is true for net sentiment of equities
IPE Expectation Indicator: February 2019
The end of 2018 saw expectations shift meaningfully in certain markets, and then pause. It also saw trends accelerate, then pause. For most of us, the pauses were welcome, because the shifts were related to broad market plans
IPE Expectations Indicator: December 2018
At times we aim to find the mountains within the molehills of manager expectation shifts. In our defence, any curvature is worthy of recognition. Sometimes, changes (or lack thereof) come along that are worth diving into. In the prior survey, it was the four-month lack of change within the high sentiment toward US equity markets to rise that was significant. During the current period, hyperbole aside, change has come.
IPE Expectations Indicator: July/August 2018
As often in high summer, storms – in the form of volatility – may be on the horizon
IPE Expectations Indicator: June 2018
This month’s IPE Expectations Indicator poll sees no change in some areas, some change in others, and a continuation of a long-term trend, which is, in itself, both a change and not a change.
IPE Expectations Indicator: May 2018
It would be an understatement to say the shine has left the US equity market, given this month’s manager expectation submissions. The month’s responses indicate movements across all asset categories, with a positive nod toward Europe, while those who predict change (for instance in the US and the UK) are seeing an erosion of confidence towards equity valuations.
IPE Expectations Indicator: April 2018
The influx of pessimism in the prior survey has not carried over into this month
IPE Expectations Indicator: March 2018
What does one expect to happen when positive sentiment declines across the board? What we know is that near universal sentiment movements do not happen often
IPE Expectations Indicator: February 2018
Given the similarities between the February 2018 and February 2017 expectations surveys, it may be appropriate to wish everyone a ‘happy same year’
IPE Expectations Indicator: January 2018
It would be an understatement to say the shine has left the US equity market, given this month’s manager expectation submissions
IPE Expectations Indicator: December 2017
This survey has rarely found such consensus among asset managers as we see in this month’s survey. Virtually no manager expects euro-zone equities to fall or euro bond prices to rise
IPE Expectations Indicator November 2017
Just when some major themes seemed to be on pause, managers’ expectations crept into rarified territory, while in others themes in place since at least 2014 have gathered momentum. Whether valuation extremes are appropriate, managers believe they will continue.
IPE Expectations Indicator October 2017
Despite rising geopolitical tensions, there was no corresponding rise in negative sentiment in the most recent survey period. That does not mean there were no changes in sentiment trends; only that shifts were mostly slight
IPE Expectations Indicator September 2017
Investment managers’ expectations have been welcomingly accurate throughout the year. For example, positive sentiment toward European equities began to rise sharply near the end of 2016, followed by a roughly 20% rise in 2017. Additionally, expectations for dollar strength have been falling since January, and the dollar index (DXY) was down nearly 10% year-to-date through the recent survey period. What are managers’ views as we enter the second half of 2017?