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PERSPECTIVES Weekly: The Investment podcast

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Deutsche Bank 22 folgen Nov 9, 2026

Direct from the Chief Investment Office (CIO) of Deutsche Bank's Private Bank, this Weekly Investment Outlook is designed to brief you on views about the week ahead. Each week, a senior member of the CIO team summarizes the most significant events expected, how they might affect markets, and the broader implications for the global economy. The podcast provides investment insights and forecasts, with disclaimers about the nature of the content.

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Markets digest the blue wave Nov 9, 2026 10:08 Markets entered a bout of volatility after the Democratic sweep of Congress in the US midterm elections, and uncertainty about what it means for the AI trade and the buildout of data centres is a part of that, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. “We saw quite a bit of rotation,” Christian says. Much of the political upheaval has been attributed to voter ang

US midterm elections, AI, and the Fed Nov 2, 2026 12:53 The US midterm election takes centre stage this week, and the outcome will have a big impact on markets for a long time, says Markus Müller, the Private Bank's head of the CIO office and Chief Investment Officer for Sustainability. “The interesting question isn't simply who wins,” Markus says. “It's what the result ultimately means for fiscal policy, US debt, and then finally the bond market.”In a

A big week for central banks, but earnings still dominate Okt 26, 2026 08:22 The Federal Reserve, the European Central Bank, and the Bank of Japan are all due to make policy decisions, but the ongoing earnings season is still the key focus this week, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. “It's very important that they come in and reassure the market,” Christian says. “If that's not the case, I think we might enter a period where things

Watching for earnings in a volatile environment Okt 19, 2026 10:17 Markets have been volatile, with both tech shares and bond yields wobbling – and EMEA CIO Dr. Dirk Steffen says there are a lot of reasons behind it, including political uncertainty. "Let’s not forget we’re heading into a period ahead of the midterm elections and the earnings season,” Dirk says. “I think this is a reason the market is a bit more nervous than usual."The high levels of investments t

EU-China trade, energy prices, and inflation data Okt 12, 2026 12:05 A summit of European leaders this week is likely to focus on the EU-China trade relationship, says Dr. Jacky Tang, the Private Bank’s CIO for emerging markets. “Europe is becoming more cautious about China. But that's also different from saying that it wants to walk away completely,” Jacky says. “A big part of the tension comes from the trade imbalance. Europe's trade deficit with China is enormou

Fed minutes in focus after a rise in unemployment Okt 5, 2026 13:35 Bond yields are up around the world, but maybe “bond rout” isn’t the best way to describe it, says Markus Müller, the Private Bank's head of the CIO office and Chief Investment Officer for Sustainability. “I would not really say ‘rout’, but a sustained rise”, Markus says, adding that this supports the Private Bank’s long-held belief that interest rates will remain elevated. “Higher for longer is t

What will the Fed do ahead of US midterm elections? Sep 28, 2026 12:15 The continued rise in consumer prices will have multiple effects going forward, notes Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas, beyond the pressure it places on central-bank policy. “We are in the midst of an inflationary boom, which means that the growth numbers are going to be much higher,” Deepak says. “There is a concern that further policy adjustments are stil

The bond-yield surge goes global Sep 21, 2026 08:47 Fixed income has taken the spotlight in financial markets, as yields have jumped just about everywhere — and there are several reasons behind the shift, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. “Bonds have been a massive driver for markets, not only on the fixed income side, but also for equities,” Christian says, adding that energy prices, concerns about debt su

Central bank spotlight, and an update on China’s economy Sep 14, 2026 14:51 The Federal Reserve, the Bank of England, and the Bank of Japan are due to make rate decisions, and markets will be watching for confirmation that recent tremors in the bond market haven’t upended policy plans, says Dr. Jacky Tang, the Private Bank’s CIO for emerging markets.“What's interesting is that the markets aren't really obsessing over whether rates move higher this month or next month,” Ja

Key takeaways from CIO Day: the outlook for equities Sep 7, 2026 13:29 The Private Bank just held its quarterly exercise in updating its forecasts for markets and economies, and EMEA CIO Dr. Dirk Steffen says that expectations for stocks remain strong. "The main takeaway from our CIO day was our constructive take longer term on equities, because it's mainly driven by earnings,” Dirk says, though he also notes that “we also focus a lot on risk management because this

Higher for longer… still Aug 31, 2026 10:53 Looking ahead from the Jackson Hole Symposium, the rate trajectory is the most important question for the remaining months of 2026, says Christian Nolting, Private Bank's Global CIO. "Because we see energy prices still elevated which is unlikely to change substantially and that causes some reaction function for the central banks to fight inflation,” Christian says. “Most central banks are starting

Watching for the Fed’s preferred inflation gauge Aug 24, 2026 11:43 Yields on long-end U.S. Treasuries have recently climbed to multi-year highs, and it’s a pattern that is being seen around the world, notes Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas. “This is not just only a U.S. phenomenon”, Deepak says, pointing to falling bond prices and climbing rates in Germany, Japan, the U.K. and other regions. High levels of government debt,

Beyond Iran: why investors remain optimistic Aug 17, 2026 09:53 Geopolitical tensions have continued to dominate headlines in recent weeks, but markets appear to be taking a broader view. In this week's edition of the CIO Weekly Investment Outlook, Christian Nolting, Global Chief Investment Officer at Deutsche Bank Private Bank, discusses why, despite ongoing uncertainty, "it's not all about the Iran situation" for investors.Christian explores the forces helpi

Big earnings growth, and not just in the US Aug 10, 2026 14:15 Big tech earnings in the US have stolen a lot of headlines, but that should not distract from gains being made in other sectors and regions, says Dr Dirk Steffen, the Private Bank’s EMEA CIO. “The rally this year is not solely based on artificial intelligence and big tech companies. We have also other regions joining the earnings party,” Dirk says. “It’s good to see this broadening out.”US inflati

Volatility amid strong fundamentals Aug 3, 2026 09:58 Stock markets have had some stumbles recently, with selloffs in the technology sector followed by rapid recoveries, but the fundamentals of the AI rally have not changed, says Dr. Jacky Tang, the Private Bank’s CIO for emerging markets. “The reality is these stocks have had incredible runs so far this year. So investors are constantly asking themselves whether they've become a little bit too optim

Markets caught in the crosswinds Jul 27, 2026 09:32 Geopolitical tensions, central bank decisions and key economic data releases are all competing for investors' attention. In this week's episode of PERSPECTIVES, Markus Müller, the Private Bank's Global Head of the CIO Office and Chief Investment Officer for Sustainability, discusses the renewed Iran conflict, the outlook for inflation and growth, and what investors should watch in the week ahead.M

Watching for earnings from big tech, and their capex plans Jul 20, 2026 16:15 Second-quarter earnings got off to a strong start in the US with solid results from big banks, but now markets will be focused on what the technology hyperscalers have to say about both earnings and their spending plans, says Dr. Dirk Steffen, the Private Bank's EMEA CIO. "We're getting closer to 1 trillion, maybe in a year or so, a trillion dollars that will be spent by a handful of companies in

Earnings preview, and a new Fed chief makes his mark Jul 13, 2026 12:50 Hostilities flared in the Middle East last week, and oil prices took note, but not to the degree that they did when the war began, says Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas. “The clear transmission mechanism of those hostilities tends to be first oil and then it moves into the rates market,” Deepak says. “I think we need to live with this for some time to come.

What to expect in the second half of 2026 Jul 6, 2026 11:02 The first half of 2026 saw markets power through a great deal of geopolitical uncertainty, and now earnings will be important to watch as the second half gets under way, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. “We are positive for the markets because we think there's still some room to go for corporate earnings,” Christian says, noting that expectations for resu