Deutsche Bank Private Bank

Markets are gearing up for important central bank decisions in the US and Europe in September, and our EMEA CIO and Global Chief Investment Strategist Dirk Steffen spoke to Bloomberg Europe to help set the stage and talk strategy. “The main central banks have chimed in for a September cut, and in the next few weeks the jobs data will come in. This will be central to decision-making for the US Federal Reserve,” he said. “Inflation data will have to deliver, and we are still dependent on the state of US and Europe economies.” Dirk doubts that markets will stay calm while central bank decisions are still data dependent. “In our view the market’s pricing on recent developments is a little too dovish, and we expect central banks to be a touch more hawkish until Christmas.” How to hedge in this market? “Apart from strategic asset allocation, we believe in tactical asset allocation as well. It would be varying the degree of equity exposure you have. Looking forward, the dollar may find a stronger footing as well”, Dirk said. Watch it here (starts at 52:01) https://lnkd.in/eRwWYyhv (When investing, your capital may be at risk) #economy #privatebanking #wealthmanagement #CIOinsight #inflation

Speaking to CNBC London yesterday, our APAC CIO Stefanie Holtze-Jen, CFDS said Asia currencies are benefitting from the repricing of risk as markets anticipate US rate cuts. Japan equities and the Yen rose on Monday as the market absorbed rhetoric from the Jackson Hole Federal Reserve meeting. The CIO says China’s domestic weakness may see further intervention, while the other Asia economic giant, India, offers long-term investment opportunity despite short-term volatility. #privatebanking #wealthmanagement #emergingmarkets #CIOinsight (If invested, your capital may be at risk)

Harsh Agarwal, Head of Discretionary Portfolio Management (DPM) for #EmergingMarkets, told @FinewsAsia in a recent interview that Deutsche Bank Private Bank in Asia Pacific has recorded net new assets for mandates in 2023 and 2024. “Performance in our mandates has been pretty strong. There were two calls that were significant contributors this year. Firstly, we were relatively more positive on high yield in fixed income portfolios. Secondly, we were more overweight on US equities relative to the market,” Agarwal said. He noted that the three major factors that have contributed to faster growth are products, processes and people. #wealthmanagement #privatebank #discretionaryportfoliomanagement (When investing, your capital may be at risk)

In this week’s #CIOWeeklyInvestmentOutlook, the Private Bank’s Chief Investment Officer for the Americas, Deepak Puri, CFA, says investors are increasingly focused on the Federal Reserve’s next policy moves. “Some of the recent data has been quite noisy and, when you start looking into that, it makes a lot of sense for the Fed to start cutting rates," Deepak says. He also notes that markets are starting to pay more attention to U.S. politics, and that this may have had a role in recent volatility. In the week ahead, key reports to watch will include durable goods orders, earnings guidance from a major name in artificial intelligence, and the Fed’s preferred inflation gauge at the end of the week. Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #CIOWeeklyInvestmentOutlook #privatebanking #wealthmanagement

How does it feel to compete and win, together with your friends? And how do personalities impact performance? WATCH 🎥: Stuart Bithell, Wing Trimmer for the Germany SailGP Team, explains in the latest of our sailor profile video series. Responsible for shaping the sails and setting the speed of the boat, Stuart says it’s all about having the right people around you during those high-pressure moments while racing. “Having personalities you get on with is really important.” Learn how the team leverages technology to minimise their carbon footprint and discover what drives the Germany SailGP Team ahead of the new season starting this November: https://lnkd.in/eSAmnmje Deutsche Bank is proud to support the Germany SailGP Team because we share their values on and off the water. SailGP #PoweredByNature #SailGP #WealthManagement #DBxGermanySailGP #RethinkingPerformanceSustainably #RaceForTheFuture (When investing, your capital may be at risk)

Our APAC CIO Stefanie Holtze-Jen, CFDS spoke on Bloomberg’s Middle East program yesterday, commenting that traders could be disappointed by the Fed Chair comments from Jackson Hole regarding the size and path of rate cuts. “All the real economic data needs to be digested as we get closer to the date of the Fed meeting but we have forecast only three cuts in this cycle,” Stefanie said. On China equities, she highlights low positioning and sentiment against valuations in China’s equities markets may signal the low and a potential opportunity. Watch the interview (starts at 12:55) http://deu.ba/6042f6bgO #CIOinsight #privatebanking #wealthmanagement (If invested, your capital may be at risk)

James Whittaker, Head of Wealth Management UK and CEO of DB UK spoke about milestones in our UK Wealth business and the various needs of the clients we cater to. “If you look at the three key areas for us in the UK – family offices, private equity professionals and entrepreneurs – they all have very different needs and want to engage in different ways. Investing in our franchise both from a client relationship point of view as well as from a platform perspective has paid off, allowing us to help them meet their objectives and to engage with them in the way that suits them.” Read the full interview here: https://lnkd.in/eWkPPKvc (When investing, your capital may be at risk) #wealthmanagement #privatebanking Global Private Banker

In this week’s CIO Weekly Investment Outlook, the Private Bank’s Global Chief Investment Officer, Christian Nolting, explains what investors should be watching for after a recent stretch of volatility in markets. “Volatility has come down a little bit, which I think is positive”, Christian says, while noting that some of the key considerations remain: the strength of the global economy, the ongoing corporate earnings season, and the direction of central-bank policy. Christian says this week’s U.S. inflation figures will be “very important, because the Fed ultimately needs to look at inflation, what’s the development there.” But he also said that geopolitical risks are on investors’ minds, and that a possible escalation in the Middle East could bring volatility back up. “That is a very important thing to watch.” 🔗 Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #CIOWeeklyInvestmentOutlook #privatebanking #wealthmanagement

We are delighted to welcome Puneesh Nayar, and extend a warm ‘welcome back’ to Nick Malik as Market Heads in our Global South Asia team, serving the growing wealth needs of the Non-Resident Indian population. Puneesh will be based in #Singapore, while Nick is based in #Dubai. Head of Global South Asia & Africa, RAJESH MAHADEVAN , said: “Our Global South Asia & Africa business is a market leader in this segment and a strong business pillar within our emerging markets franchise. The Bank’s global connectivity and balance sheet strength, combined with our Corporate Bank and Investment Bank offering, gives our clients access to bespoke lending, banking and capital market solutions.” Welcome to #teamDB #privatebank #WealthManagement

In a week of moving markets, our Global Chief Investment Officer Christian Nolting spoke to Bloomberg’s Surveillance New York anchors yesterday. The CIO says further volatility is possible in coming weeks but sees no fundamental reason for a bear market. “The rotation trade will continue but I don’t see a massive recession in the US,” Nolting said. The Chief Investment Office hasn’t changed its macro outlook, and Nolting says positioning for a barbell strategy makes sense, pointing to real economy data. “If you look at the earnings momentum of the mid to small caps it’s even more positive down the road,” he said. Watch the interview (starts at 4:02): http://deu.ba/60414hlib #NoltingView #CIOInsights #wealthmanagement #privatebanking (If invested, your capital may be at risk)