ROOF Highlights

Investor sentiment ended last week either strongly positive or bullish in all markets we track except Japan and the UK, where investors have remained neutral.

In the last ten days, investor sentiment has decided to focus on the only positive from this data, that inflation may have peaked and is decidedly on the retreat.

The recovery in sentiment among US investors that begun in November, 2022, has now stalled, ending neutral for the third week in a row.

Sentiment ended the holiday-shortened first week of 2023 virtually unchanged from the previous week, with investors remaining neutral in every market we track except for global emerging-markets investors, who ended bullish, and European investors, who are becoming increasingly negative.

Sentiment ended 2022 neutral in all markets we follow, except among global emerging-markets investors, who tuned bullish last week on declining risk and a (relative) improvement in sentiment in China (which went from bearish to negative).

Investor sentiment was little changed from the previous week in all markets we follow, ending neutral, except in China where investors remained bearish despite an official repeal of the Zero-COVID policies and talks of more fiscal and monetary stimulus ahead.

Investor sentiment was little changed last week ahead of the key central bank meetings this week, remaining positive in Europe, Japan and the US; neutral in global developed and emerging markets; negative in Asia ex-Japan; and bearish in China.

Investor sentiment continued to recover last week in all markets we follow, except China and Asia ex-Japan, where investors remained bearish.

Investor sentiment was little changed last week, remaining negative in the US, global developed and global emerging markets; becoming slightly more positive in Europe and Japan; turning bearish in Asia ex-Japan; and staying bearish in China.

Investor sentiment ended little changed from the previous week, signalling a pause in the recent recovery from a bearish sentiment in October.

Investor sentiment continued to improve across all markets we follow, driven higher by a trifecta of ‘better-than-feared’ news on corporate earnings, lower inflation, and the US midterm election results.

Investor sentiment remained very negative last week in all markets we track, with US, Japanese and Chinese investors ending the week bearish.