PERSPECTIVES Weekly: The Investment podcast

• Stocks face an earnings “health check”

  Just as people should get routine screenings from their doctors, the upcoming earnings season will provide a valuable “health check for the market,” says Christian Nolting, the Private Bank’s Global Chief Investment Officer. Analysts have recently cut their earnings forecasts, and Christian says markets aren’t necessarily expecting particularly strong results – but that means “the companies really do need to deliver.”And even with gold trading near historic highs, Christian says that any dips in the price might be regarded as buying opportunities. “Although the dollar has been strengthening recently, we still see investors including central banks buying gold, just to diversify. And we think this trend will continue.”For more investing insights, please visit deutschewealth.com.In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany’s Federal Financial Supervisory Authority (BaFin) and by Germany’s central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2025 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

  --------  

  9:14

  --------

  9:14
• The jobs report that wasn’t, and Fed minutes due

  The US government shutdown meant that the usual monthly Jobs Report did not arrive, but markets took it in stride, says Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas. “Government shutdowns are usually considered non-events for financial markets, primarily because they tend not to change the underlying macro backdrop,” Deepak says. “We would caution investors not to make dramatic moves within their long-term portfolios based on what's happening day-to-day in D.C.”Minutes from the Federal Reserve’s most recent meeting are due, and “the focus is really going to be what was the debate like”, Deepak says. “As I look today, there's almost a 100% chance of another 25-basis-point rate cut in the October 29th meeting, and then another 25-basis-point rate cut in the December meeting.”For more investing insights, please visit deutschewealth.com.In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany’s Federal Financial Supervisory Authority (BaFin) and by Germany’s central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2025 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

  --------  

  9:35

  --------

  9:35
• Countdown to a shutdown, and sticky inflation

  US legislators are nearing a deadline on a budget agreement, and a government shutdown is possible this week, says Christian Nolting, the Private Bank’s Global Chief Investment Officer. But he also says that any negative movements in markets would likely be both minor and temporary, should that come to pass. "That would rather be a buying opportunity in the market," Christian said. Meanwhile, recent inflation data in the US showed that price rises remain above the Federal Reserve’s target. “It just confirms our view: Inflation stays higher for quite some time,” Christian said. “It limits a bit the ability for the Fed to massively cut [interest rates]. Although if you look at the labour market, I think there is room for the Fed to further cut.”For more investing insights, please visit deutschewealth.com.In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany’s Federal Financial Supervisory Authority (BaFin) and by Germany’s central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2025 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

  --------  

  8:33

  --------

  8:33
• How would markets react to a US government shutdown?

  The Federal Reserve’s decision to cut rates last week was really “a risk management tool” in the face of softer economic data, including a weaker job market, says Deepak Puri, the Private Bank’s Chief Investment Officer for the Americas. “But it was not all about the Fed last week”, Deepak says, pointing to policy decisions in the U.K., Japan, and Canada. “A lot to digest from the global central banks last week.” Looking ahead, a shutdown of the US government remains a possibility, while lawmakers remain divided on a budget that could pass a Senate filibuster. But Deepak says that markets may not react strongly even if that happens. “The interesting thing is that the markets tend to look beyond the shutdown”, Deepak says, noting that one occurred during the first Trump administration without rattling stocks. “Even though it took a lot of space in regard to the news, the markets actually had a pretty impressive rally.”For more investing insights, please visit deutschewealth.com.In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany’s Federal Financial Supervisory Authority (BaFin) and by Germany’s central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2025 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

  --------  

  11:02

  --------

  11:02
• Fed Watch: Waiting for a cut

  Markets are anticipating a policy shift this week from the Federal Reserve, which is expected to deliver the first of several rate cuts that could be spread out over the next year, says Dr Dirk Steffen, the Private Bank’s EMEA CIO. “It looks like the US central bank is now pondering the labour market much more,” Dirk says, pointing to weak jobs data to explain why the Fed might look beyond a recent uptick in consumer prices.“The Fed will probably deliver more cuts, and the ECB is almost done,” Dirk says. But he does not expect currency markets to be heavily swayed as US rates go down further in coming months while rates in Europe remain little changed, because he thinks those expectations are already priced in.For more investing insights, please visit deutschewealth.com.In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.S. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns.Performance refers to a nominal value based on price gains/losses and does not take into account inflation. Inflation will have a negative impact on the purchasing power of this nominal monetary value. Depending on the current level of inflation, this may lead to a real loss in value, even if the nominal performance of the investment is positive. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. Your capital may be at risk.The services described in this podcast are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Deutsche Bank AG is subject to comprehensive supervision by the European Central Bank (“ECB”), by Germany’s Federal Financial Supervisory Authority (BaFin) and by Germany’s central bank (“Deutsche Bundesbank”). Brokerage services in the United States are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States.Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. Lending and banking services in the United States are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group.The products, services, information and/or materials referred to within this podcast may not be available for residents of certain jurisdictions. © 2025 Deutsche Bank AG and/or its subsidiaries. All rights reserved. This podcast may not be used, reproduced, copied or modified without the written consent of Deutsche Bank AG. 030620 030121

  --------  

  14:44

  --------

  14:44

Mais podcasts de Negócios

Podcasts em tendência em Negócios

Sobre PERSPECTIVES Weekly: The Investment podcast

PERSPECTIVES Weekly: The Investment podcast: Podcast do grupo