In this week’s Weekly Investment Outlook podcast, Dirk Steffen, Global Chief Investment Strategist for Deutsche Bank’s Private Bank, reflects on a busy week driven by three central bank meetings around the globe and their respective interest rate hike decisions including market reactions.
Dirk also discusses key earnings announcements, and why tech companies that are used to strong growth year-on-year may now need to focus on efficiency in the near-term to drive up profitability. Over the next two months, he suggests, strict risk management will be required to get the most out of the markets.
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Weekly Investment Outlook: January 30, 2023 – Year of the Rabbit jumpstart!
In this CIO Weekly Investment Outlook podcast, Stefanie Holtze-Jen, Chief Investment Officer in the Asia Pacific for Deutsche Bank’s Private Bank, talks about China’s reopening and how Lunar New Year celebrations for the Year of the Rabbit have created a positive jumpstart.
For the week ahead, Central Bank watchers will be keenly awaiting decisions from meetings at the Federal Reserve, the European Central Bank and Bank of England. And in Asia Pacific, the Indian government will announce its Budget on February 1 which Stefanie expects to reflect “fiscal consolidation”.
“Debt sustainability is one of key themes of our 2023 outlook, and this coming week we will cover in detail the market implications of how India tackles its deficit challenge,” Holtze-Jen says.
Weekly Investment Outlook: January 23, 2023 – A delicate balancing act
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in EMEA, Zeynep Ozturk takes us on an economic world tour! U.S. inflation and production data, U.K. retail sales figures, Eurozone economic activity and the Bank of Japan’s yield curve control are all included in this week’s conversation.
Tune in to hear Zeynep’s analysis on what’s happening in the markets and how the world’s central bankers – many of whom spent the last week at Davos in the Swiss Alps – are playing a delicate balancing act as they endeavour to “stay the course” in their fight against inflation whilst continuing to enjoy a somewhat more positive start to the year, especially considering the performance of European equity markets.
Weekly Investment Outlook: January 16, 2023 – Earnings season begins
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Global Chief Investment Officer, Christian Nolting looks back at a positive first few weeks of 2023, with China’s reopening after Covid restrictions, a mild start to the northern hemisphere winter and cooling US CPI numbers all having a positive impact on global markets, especially in Europe.
The outlook remains challenging however, with sticky inflation and ongoing fears of an imminent recession all weighing on investor sentiment. Tune in as Christian analyses data and gives his take on what to expect from the Q4 2022 earnings season.
Weekly Investment Outlook: January 9, 2023 – Happy new year!
In the first CIO Weekly Investment Outlook podcast for 2023, the Private Bank’s Chief Investment Officer in the Americas, Deepak Puri looks back at the year 2022 and what he describes as a “fundamental reset” for the markets, with persistent inflation, supply chain disruption and unpredictable markets dominating the financial landscape throughout the year. So what’s in store for 2023?
Tune in to hear Deepak’s view on the direction of travel this year, where some positive sentiment has already dropped following data showing slowing jobs growth in the U.S and lower than expected eurozone headline inflation impacting markets in the first full trading week of the year.
Weekly Investment Outlook: December 19, 2022 – Countdown to Christmas
In this week’s Deutsche Bank International Private Bank Chief Investment Office Weekly Investment Outlook podcast, published in the week of Christmas 2022, our Asia Pacific CIO Stefanie Holtze-Jen reflects on the ECB’s hawkish stance and higher inflation projections. Stefanie points out the CIO accurately anticipated the ECB’s resolve to fight inflation all of this year, above market consensus.
In the U.S., Stefanie says in the week ahead the market has data to digest and will go back to shifting attention back to assessing how the U.S. economy is doing.
In Asia, Stefanie talks about Bank of Japan which is expected to hold rates when it meets this week, while Bank Indonesia is expected to raise rates. Then for the giant economic anchor for the Asia region, Stefanie says China is currently holding its important Central Economic Work Conference, which could, while not reporting exact numbers on growth targets, provide more high level messaging, supporting investor confidence for China.
Weekly Investment Outlook: December 12, 2022 – A sneak peek
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Global Chief Investment Officer, Christian Nolting gives us a sneak peek of what we can expect from the Deutsche Bank CIO Global Outlook 2023, which will be released this coming Wednesday, December 14.
Christian also spends some time outlining his expectations for what will be a busy week for the Central Banks, with the U.S. Federal Reserve, European Central Bank, Bank of England and others all outlining their next interest rate decisions. Tune in as Christian analyses the impact of an easing of Covid restrictions in China, alongside all the upcoming economic data releases in this week’s podcast.
Weekly Investment Outlook: December 5, 2022 – What does Santa have in store for the markets?
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in the Americas, Deepak Puri digests a stronger than expected jobs report from the U.S. last Friday, as the data suggest demand for new workers remains robust despite the Federal Reserve’s ongoing tightening campaign on interest rates.
In most global markets and particularly in the U.S., stocks and bonds have been in positive territory for the last two months, and with the famous and historic ‘Santa Clause rally’ expected once again in December, Deepak looks closely at where markets could end up by year’s end.
Weekly Investment Outlook: November 28, 2022 – The road ahead
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in EMEA, Zeynep Ozturk looks into the European Central Bank’s ongoing fight with inflation and the potentially limited room it has to raise rates in smaller increments given the various fiscal stimulus measures announced across the region. Zeynep also takes the time to summarise some of her key takeaways from the Deutsche Bank Private Bank CIO Outlook 2023, released just last week.
Tune in to hear about all this and more as Zeynep dissects a whole host of market moving indicators in the week ahead.
Weekly Investment Outlook: November 21, 2022 – A sporting stimulus!
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in EMEA, Zeynep Ozturk looks back at a busy week in global markets. From the G20 meetings in Bali, Indonesia, to the Autumn statement in the UK, markets had a lot to digest as various fiscal stimulus measures were announced alongside ongoing hawkish comments from the ECB.
Tune in as Zeynep describes how this policy action might impact the markets in the week ahead, as she also gives her tip for who’s going to win the football World Cup kicking off on Sunday!
Weekly Investment Outlook: November 14, 2022 – Only time will tell…
In our latest CIO Weekly Investment Outlook podcast, Dirk Steffen, Global Chief Investment Strategist of the Private Bank analysed last Thursday’s bumper move in U.S. equities, as Wall Street roared back to life on the back of inflation data that showed decelerating increases in consumer prices.
Over in the Eurozone however, economic activity remains sluggish with consumer prices continuing to rise. Is there any room for central bankers to slow down the recent rate of growth in interest rates? Or with various fiscal stimulus packages announced in the region this week, could European equities be an asset class to look out for? Only time will tell…
Weekly Investment Outlook: November 7, 2022 – The balancing act
In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Global Chief Investment Officer, Christian Nolting looks closely at the U.S. labour market growth numbers released on Friday, in what on the surface at least looks like continued signs of robust activity, despite the Federal Reserve’s efforts to slow demand.
Fed chair Jay Powell described the labour market as “overheated” at last Wednesday’s press conference following the Fed’s decision to raise the federal funds rate by 0.75 percentage points for the fourth time in a row. But are there some initial signs of cooling coming through?
Tune in as Christian analyses the labour market data, and gives his take on the Q3 earnings season.
Weekly Investment Outlook: October 31, 2022 – November expectations
In this CIO Weekly Investment Outlook podcast recorded on Friday, October 28, Stefanie Holtze-Jen, Chief Investment Officer in the Asia Pacific for Deutsche Bank’s Private Bank, outlines her expectations for the month of November, a month heavy with central bank meetings, data and political events.
Following last week’s ECB decision to raise rates 75bps, more central bank activity is due this week, with the Federal Reserve meeting on Thursday ahead of Non Farm Payrolls data on Friday. Bank of England and the Reserve Bank of Australia are also meeting. Stefanie then points to US mid-terms on November 8, and meetings that are key from a geopolitical perspective taking place in Asia, beginning with the G20 in Bali on November 15.
Stefanie notes the diplomacy at play with these multilateral meetings: “In Asia, the act of “showing up” is just as important as the actual dialogue”.
Weekly Investment Outlook Special: Is it time to re-evaluate Chinese equities?
In a special ad-hoc episode of the CIO Weekly Investment Outlook podcast, Stefanie Holtze-Jen, Chief Investment Officer in the Asia Pacific for Deutsche Bank’s Private Bank, outlines her expectations of the 20th National Congress of the Chinese Communist Party (CCP) meeting’s impact on markets.
Whilst the meeting focused on the re-election of President Xi Jinping as party leader, with MSCI China falling nearly 30% this year to its lowest levels since mid-2009, valuations trading well below their 10-year median and following a realignment of governing priorities, bringing technological innovation and national security (in economic terms) to the forefront of policy for the next 5 years, Stefanie asks the question, “Is it time to re-evaluate Chinese equities in a balanced portfolio?”