CIO Publications
Gain expert perspective on the potential risks and opportunities ahead in the latest reports published by our global Chief Investment Office (CIO).
Latest publications

PERSPECTIVES Special
Hefty stock price reactions to U.S. tariffs
U.S. trade and tariff policies and their lack of predictability have caused significant price fluctuations in all areas of the financial markets. Browse this page for more details.
Apr 17, 2025

CIO Podcast
Perspectives weekly, the investment podcast: April 14 – Tariff u-turn as earnings season kicks off
Tariff moves from the U.S. administration have continued to hold centre stage, and "it has been a very volatile period,” notes Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas.
Apr 14, 2025

PERSPECTIVES Special
Long Term Capital Market Assumptions 2025-2034
Long term Capital Market Assumptions (LTCMA) form a vital component of systematic long-term asset allocation approaches. This report highlights significant developments to our 10-year (i.e. 2025-2034) asset class return assumptions since the last review, and the impact of macroeconomic and monetary policy developments, amongst other factors. It presents LTCMA for selected sub-asset class indices within equities, fixed income and commodities.
Mar 27, 2025

CIO Insights quarterly report
CIO PERSPECTIVES: Q2 2025 Update
The latest quarterly update of our views includes 2025 and 2026 forecasts for GDP growth and inflation, along with 12-month targets for key policy rates and markets.
Mar 25, 2025

PERSPECTIVES Outlook
CIO PERSPECTIVES: Q2 2025 Update
The latest quarterly update of our views includes 2025 and 2026 forecasts for GDP growth and inflation, along with 12-month targets for key policy rates and markets.
Mar 25, 2025

PERSPECTIVES Special
EU carbon market: more to come
These changes should accelerate Europe’s path to decarbonization, reinforcing the EU’s leadership in climate policy. Industries will need to adapt to tighter regulations, while investors navigate an evolving carbon market with new risks and opportunities. The coming years could shape the balance between economic growth and environmental responsibility, potentially setting a precedent for future carbon pricing mechanisms worldwide.
Mar 10, 2025

PERSPECTIVES Special
Healthcare and MedTech: A blueprint for growth
In this PERSPECTIVES Special, we investigate the structural drivers of healthcare along with the recent developments and main opportunities in the sector. We also provide a market outlook focused on earnings prospects, valuation, and potential cyclical tailwinds.
Feb 26, 2025

PERSPECTIVES Special
Higher tariffs for longer
In this PERSPECTIVES Special we look at both the prospects for tariffs implementation and their possible impact on U.S. and European equities.
Feb 18, 2025

PERSPECTIVES Special
Where a potential Russia-Ukraine ceasefire might lead
In this PERSPECTIVES Special we will look for how any potential end to Russia’s invasion of Ukraine might impact financial markets.
Feb 14, 2025

Future Fundamentals podcast
Putting nature on the balance sheet
In our Future Fundamentals podcast, Naoko Ishii, Executive Vice President of the University of Tokyo and Director of the Center for Global Commons, and Markus Müller, our Chief Investment Officer for Sustainability, discuss putting nature on the balance sheet and how to build a coordinated financial response to this global challenge.
Feb 11, 2025

PERSPECTIVES Special
UK assets: a bumpy start to 2025
In this PERSPECTIVES Special we examine the reasons behind the UK assets’ bumpy start to the year. Issues covered include the re-pricing of global interest rate expectations, vulnerabilities from the UK’s “twin deficit”, the fiscal outlook, Bank of England policy options and the outlook for sterling, UK bonds and UK equities.
Jan 16, 2025

CIO Annual Outlook
Annual outlook 2025: Deeply invested in growth
In PERSPECTIVES, the Deutsche Bank investment magazine, we review the landscape for the year ahead to identify the broader issues affecting investors over both short- and long-term horizons.
Dec 10, 2024

CIO Insights quarterly report
CIO PERSPECTIVES: Economic and asset class outlook Q4 2024
This is the latest edition of our PERSPECTIVES: Economic and asset class outlook. It provides a summary update of our economic and asset class views following our quarterly CIO Day.
Nov 21, 2024
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PERSPECTIVES Special
ESG Survey 2024: Investing in the sustainable transition
Our 4th annual ESG Survey shows that investors are already investing in the sustainable transition, with evolving views on what are likely to be the leading future sectors and return drivers. Fueled by pragmatism as well as principles, ESG investment is happening. Read more.
Nov 12, 2024

PERSPECTIVES Special
China: fiscal stimulus – one step at a time
In this CIO Special report, we discuss details of the fiscal package announced by the National People’s Congress’ Standing Committee meeting and provide an update on the macroeconomic performance of the Chinese economy.
Nov 11, 2024

Video briefing
CIO Video: U.S. post-election update
Our Global Chief Investment Officer, Christian Nolting, provides an initial assessment of the U.S. election results and their market implications.
Nov 06, 2024

PERSPECTIVES Special
ESG and Sustainability Market Monitor: Q3 2024
Our ESG and Sustainability Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
Oct 24, 2024

PERSPECTIVES Special
U.S. Election: America goes to the polls
As we inch closer to the U.S. presidential election, our new CIO Special explores the current state of the political landscape, key issues and policies that continue to shape the narrative for the race and its potential impact on a range of sectors for equity investors.
Sep 27, 2024

CIO Insights quarterly report
CIO PERSPECTIVES: Q3 2024 Update
In the third issue of our quarterly publication PERSPECTIVES, we provide an update on our economic and investment outlook for the remainder of 2024 and beyond.
Sep 09, 2024

PERSPECTIVES Special
Decarbonizing portfolios: 10 key factors
Portfolio decarbonization will become an increasingly important topic. Investors need to understand the key issues involved.
Aug 23, 2024

PERSPECTIVES Special
Circular materials use: the need for change
In this CIO Special report we examine what’s driving Earth Overshoot Day and where innovation is offering hope for our planet's future.
Jul 31, 2024

PERSPECTIVES Special
Investing in EU carbon markets: where now?
Carbon markets are likely to play a major role in promoting sustainability and innovation, offering new opportunities for investors and policymakers alike.
Jul 25, 2024

PERSPECTIVES Special
ESG Market Monitor: Q2 2024
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
Jul 10, 2024

PERSPECTIVES Special
“Second-round“ effects: French shift from right to left in final ballot
With the French election resulting in a hung parliament, we discuss three possible political scenarios and their investment implications.
Jul 08, 2024

PERSPECTIVES Special
UK assets: election results should help not hinder
After Labour’s victory, the prospect of policy stability and cyclical growth will make UK assets worth a second look. We outline investment implications.
Jul 05, 2024

PERSPECTIVES Special
Energy transition: investment perspective
The renewable energy sector is experiencing remarkable growth. However, this rapid expansion faces challenges. In this report, we explain why the renewable energy sector’s trajectory remains positive.
Jul 03, 2024

CIO Insights quarterly report
CIO PERSPECTIVES: Q2 2024 Update
In the second issue of our quarterly publication PERSPECTIVES, we provide an update on our economic and investment outlook for the third quarter of 2024 and beyond.
Jun 17, 2024

PERSPECTIVES Special
China: strong support for the property sector
China announced more measures to support the property sector at a national government meeting on May 17. The stimulus measures come at a time when China’s property sector continues to weaken with price declines and lower transaction volumes.
May 21, 2024

PERSPECTIVES Special
ESG Market Monitor: Q1 2024
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
May 17, 2024

PERSPECTIVES Special
BoE’s path to lower rates: what’s next?
The Bank of England (BoE) maintained its key interest rate at 5.25% for the sixth consecutive meeting last Thursday. Signals from the Monetary Policy Council (MPC) indicate a potential rate cut as early as June 20, however.
May 15, 2024

PERSPECTIVES Special
Spain, moving forward
This CIO Special addresses Spain’s recent positive economic performance, its fiscal balance situation and the prospects for Spanish debt & equity assets.
May 14, 2024

PERSPECTIVES Special
China: growth key to market upside
The recent positive performance by Chinese equities has been mainly driven by a modest improvement in macroeconomic data.
May 14, 2024

PERSPECTIVES Special
Italy: staying positive
Italy has weathered recent economic crises, including COVID-19 and the European energy shock, better than expected. In Q4 2023, Italy’s GDP growth was +0.2% QoQ, compared to 0.0% for the Eurozone. For the full year 2023, Italy’s growth was 0.7%, outperforming the Eurozone’s 0.5%.
May 10, 2024

PERSPECTIVES Special
Singapore: economic and sector prospects
Singapore’s economic openness creates both challenges and strengths. The external sector is an unavoidable source of risk, the high cost of living is a concern and an ageing population. But, set against this, Singapore has a number of important strengths – a globally-connected economy, business-friendly environment, political system and benefits from its role in ASEAN.
May 02, 2024

PERSPECTIVES Special
Bottoming out in the German housing market
It remains a challenging environment for the German housing market, but rate cuts, economic growth and structural rental market shortages should help the market to bottom out.
Apr 30, 2024

Future Fundamentals podcast
Investing in the Blue Economy: a blueprint for action
In our Future Fundamentals podcast, Karen Sack, of ORRAA, and Markus Müller, our Chief Investment Officer for ESG, take a deep dive into the sustainable blue economy.
Apr 26, 2024

PERSPECTIVES Special
Long-term Capital Market Assumptions: our latest forecasts
These form a vital component some systematic long-term asset allocation approaches. We highlight significant developments since our last review and the reasons for them.
Apr 24, 2024

PERSPECTIVES Special
China’s economy: awaiting the right cues
China recently released a flurry of Q1 economic data. But while GDP numbers were surprisingly strong, some other activity measures continue to disappoint. So has China’s economy really turned a corner?
Apr 18, 2024

PERSPECTIVES Special
Bitcoin: from bubble to mainstream?
Bitcoin is unlikely to assert itself as a widespread medium of exchange but may be on its way to mainstream acceptance as a store of value, although the risks of holding it remain high.
Apr 11, 2024

PERSPECTIVES Special
Smart Mobility: EVs and batteries present opportunities and risks
Favourable long-term trends for the electric-vehicle market remain intact – but an excess supply of battery metals means the outlook for miners remains clouded.
Mar 19, 2024

CIO Insights quarterly report
CIO PERSPECTIVES: Q1 2024 Update
In the first issue of our new quarterly publication, we update our forecasts for 2024 on the macroeconomic front, as well as for equities, fixed income, commodities and foreign exchange.
Mar 18, 2024

PERSPECTIVES Special
LTIT: Sustainable Food Systems – favourable entry points ahead?
Sustainable food systems (SFS) deliver food security and nutrition in ways that are sustainable in economic, social and environmental terms. Transitioning towards sustainable food systems could open up business opportunities worth USD4.5 trillion per year by 2030.
Mar 11, 2024

PERSPECTIVES Special
China’s NPC: focus on quality growth despite near-term challenges
China’s National People’s Congress (NPC) has seen the announcement of a new 2024 growth target and discussion on how a “proactive” fiscal stance and “prudent” monetary policy can help the economy.
Mar 07, 2024

PERSPECTIVES Special
India: Will a billion voters move markets in the world’s biggest democratic election?
India, the world’s largest democracy, is heading to a national vote, with results expected by the end of May. Almost one billion registered voters will make this the biggest election exercise anywhere, ever.
Mar 07, 2024

PERSPECTIVES Special
Why women’s financial inclusion matters
The empowerment of women in the labour force is important in ways that go beyond the critical matter of social justice. Female financial inclusion and gender equality are “macrocritical” to boosting economic activity.
Mar 07, 2024

PERSPECTIVES Special
U.S. Election: ‘Super Tuesday’ moves Biden-Trump closer
In a year that has been claimed to be the busiest in history for political elections, there will be no bigger event in the calendar than the race to be President of the United States, due to be held on November 5th.
Mar 05, 2024

PERSPECTIVES Special
Asset allocation for private clients
Strategic asset allocation for private clients starts with detailed knowledge of an investor’s risk profile, investment horizon, and performance targets, among other considerations.
Feb 23, 2024

PERSPECTIVES Special
ESG Market Monitor: Q4 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
Feb 20, 2024

PERSPECTIVES Special
Long-term investment theme Digitisation: going to the next level
For investors, digitisation provides a wide range of investment alternatives, with business activities such as cloud computing, Internet of Things (IoT), digital entertainment, and others showing substantial growth potential.
Feb 19, 2024

PERSPECTIVES Special
Consumption recovery through 2024 provides opportunities
Consumers are holding up relatively well in the U.S. and Europe, despite a weaker economic environment. This could yield interesting opportunities in the stock market, particularly in the area of discretionary consumption.
Feb 02, 2024

Stocks
Annual Outlook 2024 | ESG: We‘re in this together
ESG investment has gone mainstream, with performance implications. Energy transition may point the way to investing in the sustainable economy.
Jan 24, 2024

PERSPECTIVES Special
Managing investment uncertainty with asymmetric strategies
Adherence to strong convictions in the face of market-moving events can potentially trigger undesirable timing mistakes. Asymmetric strategies can allow more potential upside for a given portfolio risk.
Jan 19, 2024

Bonds
Annual Outlook 2024 | Bonds: Real rates matter
After years of extremely low interest rates, the investment universe is now complete again thanks to the renewed attractiveness of bonds as an asset class – and is likely to remain so for the foreseeable future in our opinion.
Jan 18, 2024

Stocks
Annual Outlook 2024 | Sectors: banking on tech
U.S. growth stocks are probably still the way to go for the long term. European and Japanese financials could appeal too, as well as consumer discretionary, industrials and energy.
Jan 11, 2024

Stocks
Annual Outlook 2024 | Risks: de-risking risks
Be aware that measures to create stability may just create new risks. Rates are still on our radar.
Jan 09, 2024

Stocks
Stocks: Growth comes at a price
Robust earnings growth is expected globally in 2024. Expectations of higher rates for longer may however put a lid on valuations expansion.
Jan 03, 2024

CIO Insights quarterly report
Annual Outlook 2024 | Our long-term investment themes (LTIT)
We see these as the key global challenges: how to sustainably utilise and conserve our global resources; how to provide for the global population, and how to develop key technologies to help us all do this.
Dec 26, 2023

CIO Insights quarterly report
Annual Outlook 2024 | Our long-term investment themes (LTIT)
We see these as the key global challenges: how to sustainably utilise and conserve our global resources; how to provide for the global population, and how to develop key technologies to help us all do this.
Dec 26, 2023

CIO Insights quarterly report
Annual Outlook 2024 | Economy: Investing creates potential
Expect only moderate growth in industrialised economies in 2024. The long-term challenge remains the delivery of investments to enhance economic competitiveness and fight climate change.
Dec 22, 2023

Stocks
Annual Outlook 2024 | (Geo)politics: Power play
Domestic political developments are increasingly shaping foreign policy agendas – and 2024 will be the biggest election year in history.
Dec 15, 2023

CIO Insights quarterly report
Annual outlook 2024: Finding growth
Despite the economic, geopolitical and climatic challenges the world currently faces, we think that 2024 is likely to be a decent year for investors. In our annual outlook we present our current economic and asset class forecasts for 2024, possible key issues for the coming 12 months and our long-term investment themes.
Dec 07, 2023

PERSPECTIVES Special
ESG Survey 2023: Sustainable transition and investment
Over the last three years, our annual survey has examined our private, business and institutional clients’ attitudes to the multiple dimensions of ESG (environmental, social and governance) investing. This year, we had 1,759 responses to our survey, double the 849 received in 2022.
Nov 22, 2023

PERSPECTIVES Special
ESG Market Monitor: Q3 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
Nov 01, 2023

PERSPECTIVES Special
ESG & investment performance: think strategically
The key to sustained long-term returns from ESG investment is effective strategic asset allocation.
Oct 24, 2023

PERSPECTIVES Special
Smart mobility: switch, optimise, prioritise
Once we looked to technology to make transportation systems cheaper, faster or safer. But “smart mobility” needs to be more sustainable too - and the primary challenge may be social in nature.
Oct 20, 2023

Future Fundamentals podcast
Sustainable cities
The Private Bank’s ESG CIO Markus Müller and Dr. Philipp Rode of the London School of Economics (LSE) look at how cities can adapt to increasing social, economic and environmental pressures in an ever-more urbanised world.
Oct 17, 2023

PERSPECTIVES Special
What Global South developments mean for Asia
The expansion of the BRICS coalition, with six nations set to join at the start of 2024, will provide the group with increased access to mineral resources and impact global supply chains.
Oct 12, 2023

PERSPECTIVES Special
ESG investment: understanding system changes
Environmental constraints mean that system changes will be necessary to meet four key human demands –for energy, food, manufacturing and mobility.
Oct 11, 2023

PERSPECTIVES Special
Land resources: Conservation and regeneration
Our planet provides an abundance of land-based resources that we use to meet our needs, but just five key demand areas - cement, aluminium, steel, plastics, and food - account for around 37% of global CO2 emissions.
Aug 22, 2023

Future Fundamentals podcast
Measuring sustainability
Deutsche Bank Private Bank’s ESG CIO Markus Müller and Anna Katharina Mayer, Club of Rome member and FindingSustainia co-founder, look at the complex issues around measuring sustainability – in other words, how we assess the real impact of corporate, government and individual actions on the natural world around us.
Aug 21, 2023

CIO Nature Series
Rainforests: the Earth’s green lung
Rainforests provide invaluable ecosystem services supporting climate management, biodiversity, and rural livelihoods—but they are also fragile. In this publication, we focus on four key concerns: deforestation, climate change, poaching and illegal trade, and mining and oil extraction
Aug 02, 2023

Future Fundamentals podcast
Sustainable value chains
Deutsche Bank Private Bank's ESG CIO Markus Müller and Deutsche Bank Research’s Marion Laboure look at value chains in the global economy – and why there are increasing concerns about their sustainability.
Jul 13, 2023

PERSPECTIVES Special
Infrastructure: supporting a sustainable future
This CIO Special on one of our long-term investment themes looks at possible future developments in the infrastructure sector, based on the four key themes of resilience, sustainability, innovation and inclusivity.
Jul 04, 2023

PERSPECTIVES Special
The Ocean: an essential pillar of planetary life
In this publication, we take a close look at the environmental benefits we gain from the marine environment, the definition of a Sustainable Blue Economy, development areas and problems and how we can help finance sustainable maritime nature-based projects.
Jun 08, 2023

PERSPECTIVES Special
ESG Market Monitor: Q2 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
Jun 01, 2023

PERSPECTIVES Special
Land: A key Life Pillar
In our publication, we take a deep look at the importance of biodiversity, particularly from an investor's perspective.
Apr 18, 2023

PERSPECTIVES Special
Energy Transition: the quest for emissions-free energy
Our CIO Special report looks at a central challenge for the world today: how we produce and use energy in a more sustainable way.
Apr 12, 2023

PERSPECTIVES Special
Big Tech: Regulation remains an important factor
In our CIO Special, we look at the regulatory picture in jurisdictions around the world and consider the investment outlook.
Mar 09, 2023

PERSPECTIVES Special
India: Why it will be a USD 7 trillion economy by 2030
In our latest CIO Special – India: Why it will be a USD 7 trillion economy by 2030 – we look at the structural shifts taking place currently in India which are setting the stage for it to become the fourth largest economy in the world by the end of this decade.
Mar 02, 2023

CIO Nature Series
Mangroves: why they need protection
Mangroves are highly important for biodiversity and play a crucial role as nature-based solutions to mitigate the effects of climate change, even though they make up less than 1% of all tropical forests worldwide.
Jan 24, 2023

CIO Nature Series
Mangroves: why they need protection
Mangroves are highly important for biodiversity and play a crucial role as nature-based solutions to mitigate the effects of climate change, even though they make up less than 1% of all tropical forests worldwide.
Jan 24, 2023

PERSPECTIVES Special
Future European infrastructure: investing in change and resilience
Sustainability and security considerations, enhanced policy support and technological development are making European infrastructure an investment focus.
Dec 15, 2022

PERSPECTIVES Special
Peak inflation and beyond
Some measures of inflation may be at, or near, their peak but this is by no means the end of the story. In our new special report, we draw some broad conclusions.
Nov 24, 2022

PERSPECTIVES Special
U.S. and European real estate: taking a closer look
The real estate sector faces a difficult global economic environment as central banks continue to tighten monetary policy. We consider the varying circumstances and outlooks for different sectors and regions.
Nov 10, 2022

PERSPECTIVES Special
ESG Survey 2022: Trends and concerns
In this year's survey we asked almost twice as many questions, with the aim of getting a more complete view of our private, institutional and business clients’ attitudes to ESG.
Nov 08, 2022

Future Fundamentals podcast
Sovereign carbon credits
Claire Coustar of Deutsche Bank’s Investment Bank joins Markus Müller, Chief Investment Officer ESG & Global Head Chief Investment Office at Deutsche Bank's Private Bank, to discuss the recent evolution of the sovereign carbon credits market and how it will help us value and protect natural assets.
Nov 03, 2022

PERSPECTIVES Special
Cities under threat: real estate investment and climate change
Cities both exacerbate climate change and suffer from its consequences – e.g. through flooding, or excess heat, or changing patterns of disease. Getting them to work better must be a key environmental and social priority.
Nov 01, 2022

PERSPECTIVES Special
Commodities, the energy transition and ESG portfolios
Energy price volatility has had an obvious impact on ESG portfolios this year, but we also need to consider the longer-term dynamics around energy and commodity markets.
Oct 19, 2022

PERSPECTIVES Special
Ensuring a sustainable blue economy
The Ocean provides key ecosystem services that are crucial for human wellbeing and the prosperity of the global economy. Learn more on how a sustainable blue economy could be implemented.
Oct 14, 2022

PERSPECTIVES Special
Energy and Asia: future challenges
Our CIO Special looks at the rapidly growing Asian energy market and how policymakers are trying to satisfy growing demand – while also reducing carbon emissions and improving energy security.
Oct 13, 2022

PERSPECTIVES Special
UNFCCC REDD+ and the power of sovereign carbon
Our CIO Special looks at the rapidly growing voluntary sovereign carbon credit market, reinvigorated by agreement on a new framework for asset issuance.
Oct 11, 2022

PERSPECTIVES Special
India: on the cusp of energy transition
In this CIO Special we look at the remarkable progress that India has achieved in its energy transition from fossil-fuel based sources to sustainable and green ones.
Sep 23, 2022

PERSPECTIVES Special
Nature-based Solutions and the climate crisis
Nature-based Solutions (NbS) will help us tackle the climate crisis. But to fully harness their potential, we need a precise conceptual understanding of what they are and the benefits they provide.
Sep 22, 2022

Future Fundamentals podcast
The future of work and the ReRo revolution
Marion Laboure, Senior Economist at Deutsche Bank and Research Lecturer at Harvard University, joins Markus Müller, Chief Investment Officer ESG & Global Head Chief Investment Office at Deutsche Bank's Private Bank, to discuss the continuing process of workplace change and the Remote working and Robotics (ReRo) revolution.
Jul 21, 2022

CIO Nature Series
Corals: the rainforests of the sea
This introductory guide to the global threats facing coral reefs – and what we can do to reduce them – is part of our new CIO Nature Series providing insights on nature-based solutions to address climate impacts and foster adaptation efforts.
Jun 24, 2022

PERSPECTIVES Special
Ocean finance: redefining the value chain
As we mark the UN’s World Oceans Day for 2022, we face major challenges in building a sustainable blue economy. This CIO Special, produced in collaboration with the Ocean Risk and Resilience Action Alliance (ORRAA), explains how the global financial sector will play an important role in finding solutions.
Jun 08, 2022

PERSPECTIVES Special
The future of work and the ReRo revolution
Remote working looks likely to persist in some form for many employees as the world learns how to live with coronavirus. But our new CIO Special argues that remote working needs to be seen as just one component of a continuing process of workplace change.
Apr 04, 2022

PERSPECTIVES Special
Biodiversity: the new playing field for ESG assessment
Our CIO Special looks at likely future trends in ESG assessment and why biodiversity will be an increasingly important consideration.
Mar 21, 2022

PERSPECTIVES Special
Cyber security: protection for the digital environment
In our new CIO Special we analyse the developments and trends impinging on cyber security and we focus on the issues and challenges created by increasing online transactions and interactions.
Feb 15, 2022

PERSPECTIVES Special
Venture Capital investing: a closer look
Our CIO Special report and introductory video discuss how the VC sector is developing and its role in portfolios.
Jan 10, 2022

PERSPECTIVES Special
Venture Capital in entrepreneurship
Find out more about the role of Venture Capitalists in our CIO Special report.
Jan 09, 2022

PERSPECTIVES Special
Venture Capital trends
Read about the latest trends in global Venture Capital investment and the wide range of risks associated in our CIO Special venture capital report. Browse today.
Jan 08, 2022

PERSPECTIVES Special
Portfolios and Venture Capital
Find out more about the potential role of Venture Capital investing in portfolios as well as diversification in our CIO Special report.
Jan 08, 2022

PERSPECTIVES Special
What is Venture Capital investing?
Find out more about the history and lifecycle of Venture Capital investing in our CIO Special report.
Jan 07, 2022

PERSPECTIVES Special
Venture Capital investing: conclusion
We attempt to summarise the main positives and negatives of Venture Capital investing in our CIO Special report.
Jan 07, 2022

PERSPECTIVES Special
Artificial Intelligence: getting around Moravec's paradox?
Our new CIO Special looks at why AI technology is now advancing fast, and the evolution of the sector from an investor’s perspective.
Nov 02, 2021

PERSPECTIVES Special
Smart Mobility: transportation reinvented
In our new CIO Special, we look at the major ongoing transformation of our transportation infrastructure.
Nov 01, 2021

PERSPECTIVES Special
Natural capital and biodiversity: measurement and investment
Our special report looks at the topic of biodiversity from a natural capital perspective, and provides insights into how we can start to tackle the “triple planetary crisis” around climate, nature and pollution. With a preface by Professor Sir Partha Dasgupta, Frank Ramsey Professor Emeritus of Economics at the University of Cambridge.
Oct 12, 2021
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PERSPECTIVES Special
What our concept of social justice should be
The ongoing climate crisis, the loss of biodiversity and the degradation of ecosystems combine to form the greatest social challenge that we face
Oct 05, 2021

PERSPECTIVES Special
Venture Capital Investing: returns and diversification
Our latest CIO Special report Venture Capital investing: returns and diversification discusses how the sector is developing and its role in portfolios. Read more.
Sep 08, 2021

PERSPECTIVES Special
Coastlines in crisis: key risks from rising oceans
Rising seas will compound other effects from climate change and ocean degradation. They will have major implications for the overall macroeconomic and policy outlook, and for investment.
Sep 01, 2021

PERSPECTIVES Special
Millennials: ageing pains
Millennials form an increasingly important group in many economies, in both economic and political terms. Our new CIO Special report looks at trends that are shaped by the Millennial generation and how investors can benefit from them.
Jul 23, 2021

CIO podcast
The deep sea: Earth’s final frontier for exploration and sustainable development
Doug McCauley, professor of ocean science at the University of California Santa Barbara and director of the Benioff Ocean Initiative, joins Markus Müller, head of the Chief Investment Office at Deutsche Bank's International Private Bank, to discuss the deep sea and the importance of taking a long-term, sustainable approach to its development.
Jul 05, 2021

PERSPECTIVES Special
Biodiversity loss: recognising economic and climate threats
Our latest CIO Special looks at the importance of biodiversity and presents the results from our survey of investor attitudes towards environmental, social and governance (ESG) investing.
May 18, 2021

PERSPECTIVES Special
Empowering the blue magic: act today for tomorrow
Our new CIO ESG Special provides an intuitive and easy-to-use summary of our previous special report on the blue economy.
Mar 13, 2021

Future Fundamentals podcast
Medtech: the future of healthcare beyond COVID-19
University of Oxford professor and medical device innovator Constantin Coussios joins Deutsche Bank’s Christian Nolting to discuss how digitalisation and demographics are converging to improve lives and create investment opportunities.
Feb 25, 2021

PERSPECTIVES Special
Exploring the E, S and G in ESG
Our new CIO Special report looks at the history of global sustainability initiatives, for example around climate change, biodiversity and the blue economy. Read more..
Dec 05, 2020

PERSPECTIVES Special
The “G” in ESG: Governance – a question of balance
Our new CIO Special looks at the evolution of the concept of governance (“G”), the final ESG component along with environmental (“E”) and social (“S”) factors.
Aug 12, 2020

PERSPECTIVES Special
The "S" in ESG: the ugly duckling of investing
In this CIO Special report we show how social criteria are becoming an integral part of informed investment decisions.
Nov 18, 2019
See more
ESG special reports

ESG Special
ESG and Sustainability Market Monitor
The client-ready ESG and Sustainability Market Monitor helps you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG Survey 2024: Investing in the sustainable transition
Our 4th annual ESG Survey shows that investors are already investing in the sustainable transition, with evolving views on what are likely to be the leading future sectors and return drivers. Fueled by pragmatism as well as principles, ESG investment is happening. Read more.

PERSPECTIVES Special
ESG and Sustainability Market Monitor: Q3 2024
Our ESG and Sustainability Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG Market Monitor: Q2 2024
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG Market Monitor: Q1 2024
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG Market Monitor: Q4 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.
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PERSPECTIVES Special
ESG Survey 2023: Sustainable transition and investment
Over the last three years, our annual survey has examined our private, business and institutional clients’ attitudes to the multiple dimensions of ESG (environmental, social and governance) investing. This year, we had 1,759 responses to our survey, double the 849 received in 2022.

PERSPECTIVES Special
ESG Market Monitor: Q3 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG & investment performance: think strategically
The key to sustained long-term returns from ESG investment is effective strategic asset allocation.

PERSPECTIVES Special
Smart mobility: switch, optimise, prioritise
Once we looked to technology to make transportation systems cheaper, faster or safer. But “smart mobility” needs to be more sustainable too - and the primary challenge may be social in nature.

PERSPECTIVES Special
ESG Market Monitor: Q2 2023
Our ESG Market Monitor publication is designed to help you stay informed and up-to-date on the latest developments in environmental, social and governance (ESG) investing and the transition to more sustainable economies.

PERSPECTIVES Special
ESG Survey 2022: Trends and concerns
In this year's survey we asked almost twice as many questions, with the aim of getting a more complete view of our private, institutional and business clients’ attitudes to ESG.

PERSPECTIVES Special
Commodities, the energy transition and ESG portfolios
Energy price volatility has had an obvious impact on ESG portfolios this year, but we also need to consider the longer-term dynamics around energy and commodity markets.

PERSPECTIVES Special
Ensuring a sustainable blue economy
The Ocean provides key ecosystem services that are crucial for human wellbeing and the prosperity of the global economy. Learn more on how a sustainable blue economy could be implemented.

PERSPECTIVES Special
Energy and Asia: future challenges
Our CIO Special looks at the rapidly growing Asian energy market and how policymakers are trying to satisfy growing demand – while also reducing carbon emissions and improving energy security.

PERSPECTIVES Special
India: on the cusp of energy transition
In this CIO Special we look at the remarkable progress that India has achieved in its energy transition from fossil-fuel based sources to sustainable and green ones.

PERSPECTIVES Special
Nature-based Solutions and the climate crisis
Nature-based Solutions (NbS) will help us tackle the climate crisis. But to fully harness their potential, we need a precise conceptual understanding of what they are and the benefits they provide.

CIO Nature Series
Corals: the rainforests of the sea
This introductory guide to the global threats facing coral reefs – and what we can do to reduce them – is part of our new CIO Nature Series providing insights on nature-based solutions to address climate impacts and foster adaptation efforts.

PERSPECTIVES Special
Ocean finance: redefining the value chain
As we mark the UN’s World Oceans Day for 2022, we face major challenges in building a sustainable blue economy. This CIO Special, produced in collaboration with the Ocean Risk and Resilience Action Alliance (ORRAA), explains how the global financial sector will play an important role in finding solutions.

PERSPECTIVES Special
Biodiversity: the new playing field for ESG assessment
Our CIO Special looks at likely future trends in ESG assessment and why biodiversity will be an increasingly important consideration.

PERSPECTIVES Special
Natural capital and biodiversity: measurement and investment
Our special report looks at the topic of biodiversity from a natural capital perspective, and provides insights into how we can start to tackle the “triple planetary crisis” around climate, nature and pollution. With a preface by Professor Sir Partha Dasgupta, Frank Ramsey Professor Emeritus of Economics at the University of Cambridge.

PERSPECTIVES Special
Coastlines in crisis: key risks from rising oceans
Rising seas will compound other effects from climate change and ocean degradation. They will have major implications for the overall macroeconomic and policy outlook, and for investment.

PERSPECTIVES Special
Biodiversity loss: recognising economic and climate threats
Our latest CIO Special looks at the importance of biodiversity and presents the results from our survey of investor attitudes towards environmental, social and governance (ESG) investing.

PERSPECTIVES Special
Empowering the blue magic: act today for tomorrow
Our new CIO ESG Special provides an intuitive and easy-to-use summary of our previous special report on the blue economy.

PERSPECTIVES Special
Exploring the E, S and G in ESG
Our new CIO Special report looks at the history of global sustainability initiatives, for example around climate change, biodiversity and the blue economy. Read more..

PERSPECTIVES Special
Understanding the blue economy
In this special report we look at what exactly the blue economy is, and why it remains crucial for biodiversity and the sustainability of global economic development.

PERSPECTIVES Special
The “G” in ESG: Governance – a question of balance
Our new CIO Special looks at the evolution of the concept of governance (“G”), the final ESG component along with environmental (“E”) and social (“S”) factors.

PERSPECTIVES Special
The "S" in ESG: the ugly duckling of investing
In this CIO Special report we show how social criteria are becoming an integral part of informed investment decisions.
Podcasts

CIO Podcast
Perspectives weekly, the investment podcast: April 14 – Tariff u-turn as earnings season kicks off
Tariff moves from the U.S. administration have continued to hold centre stage, and "it has been a very volatile period,” notes Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas.

Future Fundamentals podcast
Putting nature on the balance sheet
In our Future Fundamentals podcast, Naoko Ishii, Executive Vice President of the University of Tokyo and Director of the Center for Global Commons, and Markus Müller, our Chief Investment Officer for Sustainability, discuss putting nature on the balance sheet and how to build a coordinated financial response to this global challenge.

Future Fundamentals podcast
Investing in the Blue Economy: a blueprint for action
In our Future Fundamentals podcast, Karen Sack, of ORRAA, and Markus Müller, our Chief Investment Officer for ESG, take a deep dive into the sustainable blue economy.

Future Fundamentals podcast
Sustainable cities
The Private Bank’s ESG CIO Markus Müller and Dr. Philipp Rode of the London School of Economics (LSE) look at how cities can adapt to increasing social, economic and environmental pressures in an ever-more urbanised world.

Future Fundamentals podcast
Measuring sustainability
Deutsche Bank Private Bank’s ESG CIO Markus Müller and Anna Katharina Mayer, Club of Rome member and FindingSustainia co-founder, look at the complex issues around measuring sustainability – in other words, how we assess the real impact of corporate, government and individual actions on the natural world around us.

Future Fundamentals podcast
Sustainable value chains
Deutsche Bank Private Bank's ESG CIO Markus Müller and Deutsche Bank Research’s Marion Laboure look at value chains in the global economy – and why there are increasing concerns about their sustainability.

Future Fundamentals podcast
Sovereign carbon credits
Claire Coustar of Deutsche Bank’s Investment Bank joins Markus Müller, Chief Investment Officer ESG & Global Head Chief Investment Office at Deutsche Bank's Private Bank, to discuss the recent evolution of the sovereign carbon credits market and how it will help us value and protect natural assets.

Future Fundamentals podcast
The future of work and the ReRo revolution
Marion Laboure, Senior Economist at Deutsche Bank and Research Lecturer at Harvard University, joins Markus Müller, Chief Investment Officer ESG & Global Head Chief Investment Office at Deutsche Bank's Private Bank, to discuss the continuing process of workplace change and the Remote working and Robotics (ReRo) revolution.

CIO podcast
The deep sea: Earth’s final frontier for exploration and sustainable development
Doug McCauley, professor of ocean science at the University of California Santa Barbara and director of the Benioff Ocean Initiative, joins Markus Müller, head of the Chief Investment Office at Deutsche Bank's International Private Bank, to discuss the deep sea and the importance of taking a long-term, sustainable approach to its development.

Future Fundamentals podcast
Medtech: the future of healthcare beyond COVID-19
University of Oxford professor and medical device innovator Constantin Coussios joins Deutsche Bank’s Christian Nolting to discuss how digitalisation and demographics are converging to improve lives and create investment opportunities.

Future Fundamentals Podcast
Biodiversity loss: how many extinctions add up to economic collapse?
Acclaimed marine biologist and coral expert Kristen Marhaver joins Markus Müller, head of the Chief Investment Office at Deutsche Bank's International Private Bank, for the first episode of our Future Fundamentals podcast, designed to explore the long-term investing implications of today's key issues.