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

CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


investing blue economy desk

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Early interest rate turnaround in Switzerland

The Swiss National Bank has taken the lead as the first major central bank to cut interest rates amid subsiding inflationary pressures. The move sent a signal that the SNB would protect the economy from the consequences of an excessively strong franc.

Mar. 21, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

FOMC: Raising the bar

The Federal Reserve's March update to its economic projections implied that three 25-basis-point interest-rate cuts remain in store for 2024.

Mar. 20, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: the start of positive interest rates

In a landmark event, the Bank of Japan ended its negative interest-rate policy and yield curve control, though monetary policies remain accommodative.

Mar. 19, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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 Outlook Update Q2 2024 | Wealth Management

CIO Insights quarterly report

CIO PERSPECTIVES: Q2 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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: when will the BoJ pivot?

Wage hikes by some leading manufacturers have set the tone for industry-wide pay rises. Japanese authorities are closely watching industry pay revisions as they expect it to trigger a “virtuous cycle of growth”. However, BoJ Governor Ueda recently played down the state of the Japanese economy, given mixed data signals.

Mar. 13, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.K. economy: on the way out of recession

The U.K. economy started the new year with moderate growth, and the rebound should give the Bank of England the cover it needs to stick to its wait-and-see approach. That could sustain the British pound's relative strength in the near term.

Mar. 13, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Patience is key

U.S. Consumer Price Index (CPI) showed an annualised increase of +3.2% year-on-year (YoY), moving higher from last month’s reading. On a month-on-month basis (MoM) Core CPI, which excludes Food and Energy, remained at +0.4%.

Mar. 12, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Mixed report strengthens case for June cut

The latest Nonfarm payrolls report delivered higher-than-expected jobs figures for the month of February, with significant downward revisions also seen for the previous two months.

Mar. 08, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

ECB hints at interest rate reversal in June

The prospect of an imminent turnaround in interest rates should continue to provide the equity markets with a slight tailwind.

Mar. 07, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


esg market monitor desk

CIO Special report

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Taking a detour

Stronger-than-expected U.S. inflation figures will reinforce the Fed's cautious approach to a potential interest-rate cut in the near future.

Feb. 13, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Kicking the cut down the road

The U.S. jobs report for January showed the labour market on a stronger footing than forecast. That could mean that the Federal Reserve will hold off on interest-rate cuts for longer than had recently been expected.

Feb. 02, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

India: Interim budget targets strong fiscal improvement

A budget focused on strong fiscal consolidation unsurprisingly gave support to fixed income markets.

Feb. 01, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

BoE on hold as it’s "not there yet"

The Bank of England left interest rates unchanged as expected, but it also softened its language, dropping a warning about the potential for further policy tightening should inflationary pressures re-emerge.

Feb. 01, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. FOMC: Looking for confidence

The Federal Reserve left interest rates unchanged and signalled that it is yet to be fully convinced that a rate cut is imminent.

Jan. 30, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: stimulus provides temporary boost; more expected

We believe a recovery in Chinese equities is likely in the second half of 2024 as recent stimulus measures gradually take effect.

Jan. 29, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Greece: back to economic health

Compared to the eurozone overall, Greece could experience slightly higher economic growth in the coming years, in particular due to a resurgence in private consumption.

Jan. 29, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

ECB waiting on data

As unanimously expected in advance, the European Central Bank (ECB) left key interest rates unchanged at its meeting today.

Jan. 25, 2024


Solar panels aerial view. Innovative solar panel island in Almere, Netherlands. Modern sustainable residential area.

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


CIO Special | Deutsche Bank Wealth Management

CIO Memo

Japan: dovish BoJ positive for equities

As the BoJ remains dovish, we believe the strong momentum in Japanese equities could continue in the near term.

Jan. 23, 2024


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


Paris Tour Eiffel skyline

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


CIO Special | Deutsche Bank Wealth Management

CIO Memo

China: Q4 GDP weak amidst deflation

Chinese stock markets fell to multi-year lows after the country’s gross domestic product for the fourth quarter came in below expectations.

Jan. 17, 2024


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: "Beware the cuts of March"

Higher-than-expected inflation figures for December will reinforce the Federal Reserve's view that a cautious approach to cutting interest rates will be required in the coming months.

Jan. 11, 2024


Engineer repairman holding hands CPU to insert into the socket of the motherboard. Technology hardware in the neon light

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


Serpentinen

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: Growth comes at a price

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


investing desk banner

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


investing desk banner

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


investing desk banner

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


Happy engineer feel success after good work. He standing a top of windmill and looking beautiful sunset

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: monetary policy status quo maintained

Corporate recovery is gaining ground in Japan, but the Bank of Japan will likely maintain its loose monetary policy until it sees meaningful consumption recovery.

Dec. 19, 2023


geo politics

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 Memo | Deutsche Bank Wealth Management

CIO Memo

ECB leaves key rates untouched

The European Central Bank left its key interest rates unchanged, and President Lagarde hinted at a more restrictive monetary policy than many financial-market participants had expected.

Dec. 14, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

BoE: Hawkish hold

The Bank of England kept interest rates at the current level. The British pound climbed against its peers after the decision.

Dec. 14, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

FOMC: Powell delivers dovish gifts

Stock markets rallied after the Federal Reserve updated its economic projections to suggest its policy could be more dovish in 2024 than recently forecast.

Dec. 13, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: As you were

U.S. inflation edged down in November, giving the Federal Reserve little reason to change course ahead of its last policy decision of the year.

Dec. 12, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Steady as she goes…

The nonfarm payrolls report for November reflected surprisingly strong jobs growth, leading to lower expectations for future interest-rate cuts from the Federal Reserve.

Dec. 08, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

India: RBI equates high growth plus moderate inflation with steady rates

The Reserve Bank of India extended its pause on rates as expected, and the markets for government bonds and currencies remained stable.

Dec. 08, 2023


CIO Insights Annual Outlook 2024 | Wealth Management

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: Downward revision of sovereign outlook likely priced in

Moody’s lowered its outlook on China’s government credit ratings from stable to negative on the perceived rising downside risks to the government’s fiscal strength.

Dec. 06, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Spain: lower GDP growth in 2024

The Spanish economy has shown remarkable resilience during 2023, but the latest indicators point to a slowdown. A complex political environment will make it more difficult to address some important challenges.

Dec. 05, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: recovery remains uneven; more property support planned

Recent Chinese economic data have been mixed, with persistent weakness in the property and manufacturing sectors. But a more stable recovery for the country is likely in the coming quarters.

Nov. 30, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

U.S. Election: Running up that hill

In our new CIO Special – U.S. Election: Running up that hill, we explore the political landscape of the upcoming Presidential elections, key issues that will shape the narrative for the race and its potential impact for investors.

Nov. 22, 2023


CIO ESG Survey 2023 (1)

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: Some positive signals starting to show

Fresh economic data and easing geopolitical tensions point to a potential outperformance for Chinese stocks in the coming quarters.

Nov. 16, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Calling time on rate hikes

U.S. inflation fell more than expected in October, lifting stock markets and reducing expectations for an interest-rate rise from the Federal Reserve in December.

Nov. 14, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Indonesia: Q3 GDP slowed with weaker exports

Indonesia’s Q3 GDP came in below expectations, but the country remains among the fastest growing Asian economies.

Nov. 07, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Labor market sends soft landing signals

Official U.S. employment data for the month of October pointed to much-needed softening of the labor market and reinforced the Fed’s stance to keep rates steady.

Nov. 03, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Bank of England: rates unchanged in hawkish pause

The Bank of England left interest rates unchanged as expected, and predicted that the U.K. government would meet its goal of halving inflation by the end of the year.

Nov. 02, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

FOMC: Keeping the door open

The Federal Reserve left interest rates unchanged, but emphasized that inflation remains “elevated” and that it is committed to bringing it down to the ideal 2%.

Nov. 01, 2023


esg desk

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: mild tweak to monetary policy

The Bank of Japan is performing a balancing act between managing domestic growth, reaching its inflation target, and factoring in the depreciation of the yen.

Oct. 31, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

ECB keeps monetary policy unchanged

The European Central Bank left interest rates unchanged - and interest rate cuts are not expected in the near future.

Oct. 26, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

ESG & investment performance: think strategically

The key to sustained long-term returns from ESG investment is effective strategic asset allocation.

Oct. 24, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: Recovery regains momentum in Q3

China's gross domestic product for the third quarter beat analysts' expectations, but headwinds from the weak property sector and uncertainty from geopolitical tensions persist.

Oct. 18, 2023


ff sustainable cities copy

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Rise in Italian government bond spreads

The recent discussions regarding looser fiscal policy in Italy have exacerbated the volatility on the bond market, leading to a moderate widening of its spreads.

Oct. 13, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Core remains in focus

Slightly stronger-than-expected U.S. inflation data for September might not be enough to persuade the Fed to act at its next policy meeting, although a further rate hike in November can’t be completely ruled out.

Oct. 12, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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


CIO Memo | Deutsche Bank Wealth Management

Stocks

Nonfarm Payrolls: September strength gives rates a further lift

The September nonfarm payrolls report saw labor markets strongly surpass forecasts, raising expectations for an interest-rate increase at the next Federal Reserve meeting.

Oct. 06, 2023


CIO Insights Q4 2023 Update | Wealth Management

CIO Insights quarterly report

At a crossroads? – our Q4 2023 update

Our latest CIO Insights quarterly provides an update on our economic and investment outlook for the fourth quarter of 2023 and beyond.

Sep. 27, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: ultra-loose monetary policy maintained amid uncertainties

The Bank of Japan left its negative interest rate and yield curve control parameters unchanged in light of the “extremely high uncertainties” in the growth and inflation outlook globally and in Japan.

Sep. 22, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

FOMC: Braced for (soft) landing?

The Federal Reserve lifted its economic projections for the year and left interest rates unchanged, but reiterated that future policy decisions will depend on economic data.

Sep. 21, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

BoE pauses after easing inflation

The Bank of England decided on a knife-edge vote to leave interest rates unchanged, but left the door open for further increases in the future to get inflation under control.

Sep. 21, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Strengthen the competitiveness of the German economy

The German economy is faltering and there is a growing debate about the appropriate policy response, but we remain confident that the country can address its structural challenges.

Sep. 15, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: macro stabilising and RRR cuts

China’s economic indicators for August showed signs of improvement, but market sentiment toward the country's equities could remain relatively weak.

Sep. 15, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Fighting Inflation with 4%

The eurozone interest rate peak seems to have been reached – but rates will likely need to remain high for a longer period of time to get inflation under control.

Sep. 14, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Uptick keeps the Fed on their toes

U.S. inflation came in higher than expected for the month of August, but not enough for investors believe it would change the Federal Reserve's expected course of action.

Sep. 13, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: end of negative interest rate regime in sight

Over the weekend, the Bank of Japan (BoJ) Governor Kazuo Ueda announced that Japan could soon end its decades-long negative interest rate regime.

Sep. 11, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: more property stimulus measures

Chinese regulators announced more supportive measures to support the property market, including reducing downpayments and lowering mortgage rates.

Sep. 04, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Summer lows

The August U.S. jobs report showed a combination of higher unemployment and slower wage growth, increasing expectations that the Federal Reserve would leave interest rates unchanged at its next meeting.

Sep. 01, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: equities rebound on supportive measures

Chinese regulators announced a slew of measures to support equities, and we expect more aggressive stimulus ahead, especially in the property market.

Aug. 28, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

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 esg

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 Memo | Deutsche Bank Wealth Management

CIO Memo

China: Rate cuts amid economic weakness

China released weaker-than-expected industrial production and retail sales data and the country's central bank delivered earlier-than-expected interest-rate cuts.

Aug. 15, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Corporate bonds in the U.S. and Eurozone – risks and opportunities

The ratings for investment-grade corporate bonds in the U.S. and the Eurozone have developed positively recently - despite difficult economic conditions.

Aug. 11, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

China: Looking beyond the near-term challenges

The Chinese government has left no doubt that it is serious about addressing the country's sluggish growth with targeted support measures, but recent economic data confirm the near-term challenges.

Aug. 11, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. CPI: Moderating but still elevated

Slightly better-than-expected U.S. inflation data reinforced expectations that the Federal Reserve may not increase benchmark interest rates in September.

Aug. 11, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

India: RBI - Rate pause continues, hawkish tone rises

The Reserve Bank of India paused on interest-rate increases for the third consecutive time, with statements conveying this to be a hawkish hold.

Aug. 10, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Nonfarm payrolls: Labor market slowly cools

The U.S. jobs report for July showed further signs of cooling in the labor market but did not appear to alter expectations for the Federal Reserve's next policy decision.

Aug. 04, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

BOE: Opting for a softer hike

The Bank of England raised its key interest rate as expected, and the central bank's governor said that it was too early to declare victory in the fight against inflation.

Aug. 03, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

U.S. rating downgrade: latest update

Fitch Ratings surprised markets with a downgrade for longer-term U.S. sovereign debt, pointing to the protracted negotiations around the debt ceiling and noting that “cliff-edge” resolution talks have become more frequent in recent years.

Aug. 03, 2023


Rainforests: the Earth’s green lung | Deutsche wealth management services

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


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Global Banks: Complex challenges and compelling opportunities

In the medium term we continue to favour European banks over their U.S. peers, but note that investors willing to look beyond the short-term headwinds may find interesting opportunities in the U.S.

Aug. 01, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Japan: BoJ adjusts yield curve control

The Bank of Japan decided to allow for more flexibility in its yield curve control. As an outlier among industrialised countries, Japan sees itself increasingly forced to tighten monetary policy.

Jul. 28, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

ECB: rate hike despite weak economy

The European Central Bank raised its key interest rates and emphasised the economic slowdown in the region. Another rate hike by the end of the year is likely.

Jul. 27, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

FOMC: As you were

The Federal Reserve lifted interest rates and said it would focus on economic data in future policy decisions as it seeks to bring inflation down to target. Elevated labor and price data will keep the potential of further hikes “on the table”.

Jul. 26, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

China: Politburo meeting signals more stimulus

The Politburo meeting on Monday delivered strong high- level guidance to stimulate China’s economy, especially in consumption support and property sectors.

Jul. 25, 2023


CIO Special | Deutsche Bank Wealth Management

CIO Special report

Japanese equities remain on the up

Japanese equities have been among the top performers this year, with the TOPIX posting a striking 20.9% return in JPY terms since the beginning of the year, and the Nikkei 225 climbing to a 33-year high. This new CIO Special on Japan looks at the factors that may have contributed to this success and future developments in the country.

Jul. 24, 2023


CIO Memo | Deutsche Bank Wealth Management

CIO Memo

Spain: growing uncertainty ahead

Spain's general elections resulted in a victory for the centre-right Partido Popular (PP). However, not even with the support of the right-wing VOX will it be able to form a government

Jul. 24, 2023


CIO Memo | Deutsche wealth management services

CIO Memo

China: Q2 GDP suggests slowing growth momentum

China’s economy grew during the second quarter but came in below forecasts, with weak performances for the property market and private investment.

Jul. 17, 2023


ff sustainable supply chain

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


The great decoupling? Rethinking sustainable globalisation | Deutsche wealth management services

CIO Special report

The great decoupling? Rethinking sustainable globalisation

Produced in collaboration with DB Research, our new report identifies key challenges for globalisation and examines whether we are seeing the “great decoupling” of supply chains and other economic links.

Jul. 13, 2023


CIO Memo | Deutsche wealth management services

CIO Memo

U.S. CPI: Slowing softly

An apparent slowdown in U.S. inflation has fueled optimism that the Federal Reserve will soon be able to stop its aggressive monetary policy action.

Jul. 12, 2023


Spain: economic and political challenges ahead | Deutsche wealth management services

CIO Special report

Spain: economic and political challenges ahead

In this publication, we review the economic and political uncertainty facing Spain, update our growth forecasts for the country and detail the investment implications for different Spanish assets going forward.

Jul. 07, 2023


Infrastructure: Supporting a sustainable future | Deutsche wealth management services

CIO Special report

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


CIO Insights Q3 2023 Update | Wealth Management

CIO Insights quarterly report

Growth: a balancing act – our Q3 2023 update

Our latest CIO Insights quarterly provides an update on our economic and investment outlook for the third quarter of 2023 and beyond.

Jun. 26, 2023


CIO Memo | Deutsche wealth management services

CIO Memo

And here comes 5

Following stubbornly high inflation figures for May, the Bank of England (BoE) has raised its key interest rate by 50 basis points (bps).

Jun. 22, 2023


CIO Memo | Deutsche wealth management services

CIO Memo

China: rate cuts as expected

The People's Bank of China as expected lowered its 1Y Loan prime rate to 3.55% from 3.65% and its 5Y Loan prime rate to 4.2% from 4.3% to support the slowing economy.

Jun. 20, 2023


CIO Memo | Deutsche wealth management services

CIO Memo

ECB: higher inflation, higher rates

As expected, the ECB raised its key interest rates by 25 basis points each and confirmed it would stop reinvesting in bonds that are maturing under the “Asset Purchase Programme” (APP) as of July.

Jun. 15, 2023


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