By continuing to browse the site, you are agree on the use of cookies to track the number of visits.To know more about cookies policy:click here
25 Aug 2017

Banks to basics: Where sectors go next


We’re still positive on eurozone equities, but higher yields and a stronger euro demand caution. Knowing how a particular sector is likely to react could make all the difference. Banks, small-cap and value stocks are popular for a reason. If crowding concerns you, consider basic resources as your contrarian play.

If you only read one chart this week; make it this one.


How sectors react

sensitivity to euro moves and bond yields

Related products


Data and opinions as at 25 August 2017 unless otherwise stated. Source: SG Research, Factset & Bloomberg. SG Research taken from the Equity Strategy’s Europe Equity Compass, published on 10 August 2017. Sensitivity to bond yield (a proxy for rising inflation) - measured by taking average 2yr correlations to 10yr US treasury and bund yields.

This communication is for professional clients and qualified investors only.

This document is for the exclusive use of investors acting on their own account and categorised either as “Eligible Counterparties” or “Professional Clients” within the meaning of Markets In Financial Instruments Directive 2004/39/EC.

This document is of a commercial nature and not of a regulatory nature. This document does not constitute an offer, or an invitation to make an offer, from Société Générale, Lyxor International Asset Management or any of their respective affiliates or subsidiaries to purchase or sell the product referred to herein.

We recommend to investors who wish to obtain further information on their tax status that they seek assistance from their tax advisor. The attention of the investor is drawn to the fact that the net asset value stated in this document (as the case may be) cannot be used as a basis for subscriptions and/or redemptions. The market information displayed in this document is based on data at a given moment and may change from time to time. The figures relating to past performances refer or relate to past periods and are not a reliable indicator of future results. This also applies to historical market data. The potential return may be reduced by the effect of commissions, fees, taxes or other charges borne by the investor.

Lyxor International Asset Management (Lyxor ETF), société par actions simplifiée having its registered office at Tours Société Générale, 17 cours Valmy, 92800 Puteaux (France), 418 862 215 RCS Nanterre, is authorized and regulated by the Autorité des Marchés Financiers (AMF) under the UCITS Directive and the AIFM Directive (2011/31/EU). Lyxor ETF is represented in the UK by Lyxor Asset Management UK LLP, which is authorised and regulated by the Financial Conduct Authority in the UK under Registration Number 435658.

Connect with us on linkedin