(Opalesque) The Global Investor Confidence Index decreased to 106.8, down 2.1 points from July’s revised reading of 108.9. The decline in sentiment was driven by a 4.9 point drop in the European ICI to 89.3 along with the 0.3 point decrease in the North American ICI to 111.8. By contrast, the Asian ICI rose by 3.3 points to 99.3.
“After a boost in risk appetite in July, global investors appear to be ‘on hold’ in August,” commented Kenneth Froot. “With that said, the cut off to this month’s ICI calculation (August 23rd) results in a reading that does not capture investors’ reaction to the Jackson Hole retreat, something that is clearly at the forefront of investors’ minds.”
“Everything appears to have gone right in the Eurozone this year,” commented Michael Metcalfe, senior managing director and head of Global Macro Strategy, State Street Global Markets.