PERSPECTIVES Weekly: The Investment podcast
Episodes
Central banks keep an eye on the Middle East
26 Apr 2026
Contributed by Lukas
The first wave of earnings reports suggest that companies do not expect the Middle East conflict to linger, says Christian Nolting, the Private Bank’...
Earnings season kicks off in a time of conflict
19 Apr 2026
Contributed by Lukas
Earnings season is underway in the US, and the focus will shift this week from financial services to big technology companies, notes Markus Müller, t...
Markets fixed on Iran as earnings season approaches
12 Apr 2026
Contributed by Lukas
Markets bounced higher when the Iran ceasefire took place, but the situation remains uncertain, and many assets are likely to remain volatile, says Dr...
The second-round effects of pricier oil
29 Mar 2026
Contributed by Lukas
Oil prices will remain volatile as long as the outcome of the Middle East confli...
Central banks take a wait-and-see approach
23 Mar 2026
Contributed by Lukas
Energy prices have continued to jump, but that might not be a lasting effect of the Middle East conflict – if the fighting doesn’t spread, says Ma...
An energy shock and the inflation outlook
16 Mar 2026
Contributed by Lukas
Markets remain focused on the Middle East, and there are risks that the dislocations in energy prices could linger even if the fighting soon cools, sa...
Finding the risk premium for war in Iran
09 Mar 2026
Contributed by Lukas
The week ahead will include a wealth of economic data, though most of that could be drowned out by the escalating conflict in the Middle East, says Dr...
Stocks on the lookout for their next cues
02 Mar 2026
Contributed by Lukas
Strong results from major technology hyperscalers recently did not make much of an impression on stock markets, says Dr. Jacky Tang, the Private Bank'...
Supreme Court strikes down tariffs: what’s next for markets?
23 Feb 2026
Contributed by Lukas
The US Supreme Court ruled that a broad swath of President Trump’s tariffs are illegal, but there is still much to sort out after the decision, says...
Signals & Shifts: China’s evolution, AI dynamics & global data
16 Feb 2026
Contributed by Lukas
Markus Müller, the Private Bank’s Head of the CIO Office and CIO for Sustainability, joins this week’s PERSPECTIVES Weekly Podcast to highlight t...
Asia in focus: elections, inflation and geopolitics
09 Feb 2026
Contributed by Lukas
Dr. Jacky Tang, Deutsche Bank Private Bank’s CIO for Emerging Markets, breaks down the key forces shaping Asia’s market outlook. On Japan's weeken...
Mixed tech earnings, and a dollar slump
02 Feb 2026
Contributed by Lukas
The dollar has been trading around multi-year lows against its peers, but the downward trend may not last, says Dr. Jacky Tang, the Private Bank's eme...
How markets are viewing geopolitical risks
26 Jan 2026
Contributed by Lukas
Markets have exhibited some sensitivity to geopolitical concerns amid debates over the status of Greenland, says Deepak Puri, the Private Bank’s&nbs...
Earnings start strong, and keeping an eye on Davos
19 Jan 2026
Contributed by Lukas
S&P 500 earnings season for the 4th quarter has just gotten started, but early results have been strong, says Christian Nolting, the Private Bank’...
A strong start for markets
12 Jan 2026
Contributed by Lukas
Markets started the year from a position of strength despite some geopolitical instability, says Christian Nolting, the Private Bank’s Global Chief ...
Positioning for the New Year
15 Dec 2025
Contributed by Lukas
In our final episode of 2025, Christian Nolting, the Private Bank’s Global Chief Investment Officer, sounds an optimistic note for markets in the Ne...
Fed decision time
08 Dec 2025
Contributed by Lukas
The US dollar has been weakening against its peers lately, “but when you look for the last five years, the dollar is still positive”, notes Deepak...
Stocks find their footing; and investing tips from the UN climate conference
01 Dec 2025
Contributed by Lukas
Stocks have found their footing after a recent period of softness, and that strength could continue through 2026, says Markus Müller, the Private Ban...
Market forecast update: what to expect in 2026
24 Nov 2025
Contributed by Lukas
The Private Bank’s Chief Investment Office just held its quarterly “CIO Day” gathering to set its 12-month forecasts, and it included some inter...
Data watch after US government reopens
17 Nov 2025
Contributed by Lukas
Scepticism in the market can be a healthy sign, says Christian Nolting, the Private Bank’s Global Chief Investment Officer – and that’s currentl...
Earnings growth begins to diversify
10 Nov 2025
Contributed by Lukas
For a while it seemed like all the earnings growth was coming from a short list of major tech firms, but now that has begun to change, says Dr. Dirk S...
Considering risk in an AI boom
03 Nov 2025
Contributed by Lukas
Stock markets are soaring amid AI enthusiasm, but that does not necessarily mean we are in bubble territory, says Markus Müller, the Private Bank’s...
Central bank stars align and what to expect from COP30
27 Oct 2025
Contributed by Lukas
In a central bank triple-header, we’ll see announcements from the Fed, the ECB and the Bank of Japan in the week ahead. And while the banks share si...
Earnings season gets under way
20 Oct 2025
Contributed by Lukas
US earnings season got started with some strong results from big banks, but markets have also been focused on emerging risks for some regional banks, ...
Stocks face an earnings “health check”
13 Oct 2025
Contributed by Lukas
Just as people should get routine screenings from their doctors, the upcoming earnings season will provide a valuable “health check for the market,”...
The jobs report that wasn’t, and Fed minutes due
06 Oct 2025
Contributed by Lukas
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’...
Countdown to a shutdown, and sticky inflation
29 Sep 2025
Contributed by Lukas
US legislators are nearing a deadline on a budget agreement, and a government shutdown is possible this week, says Christian Nolting, the Private Bank...
How would markets react to a US government shutdown?
22 Sep 2025
Contributed by Lukas
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 weake...
Fed Watch: Waiting for a cut
14 Sep 2025
Contributed by Lukas
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 ...
A weak jobs report, and the outlook for bonds
08 Sep 2025
Contributed by Lukas
Interest rates and the US dollar may be heading further down after last week’s US jobs report, says Markus Müller, the Private Bank's head of the C...
Decision time
01 Sep 2025
Contributed by Lukas
Recent political developments in both the US and France sparked jitters in global markets. However, amid this uncertainty, the signals coming out of J...
No summer break for bonds
25 Aug 2025
Contributed by Lukas
While the summer break brings its usual trading slowdown and bond markets in the US have been relatively calm, European bond markets have kept moving....
Fed expectations ahead of Jackson Hole
18 Aug 2025
Contributed by Lukas
The Federal Reserve is expected to deliver a rate cut in September, but that doesn’t mean inflation concerns have gone away, says Christian Nolting,...
Shifting supply chains and a weakening dollar
11 Aug 2025
Contributed by Lukas
The latest waves of tariffs were largely shrugged off by stock markets around the world, but that doesn’t mean risks aren’t accumulating behind th...
Tariffs take centre stage, again
04 Aug 2025
Contributed by Lukas
Stock markets turned jittery after the latest tariff announcement from the White House, and “we will have another few weeks and months probably ahea...
What earnings reports say about tariffs
28 Jul 2025
Contributed by Lukas
Progress on global trade deals has supported markets recently, says Markus Müller, the Private Bank's head of the CIO office and Chief Investment Off...
Strong start to earnings
21 Jul 2025
Contributed by Lukas
The first round of US earnings reports from the 2nd quarter have been strong out of the gate, says the Private Bank’s Germany CIO Dr. Ulrich St...
Tariff delay, and discord at the Fed
14 Jul 2025
Contributed by Lukas
US equities are trading around record highs after the Trump administration pushed its self-imposed tariff deadline to August, notes Deepak Puri, the P...
Countdown to the end of the tariff pause
07 Jul 2025
Contributed by Lukas
Stock markets are trading around record highs after a bumpy second quarter – but the end of the Trump administration’s tariff pause and the kick-o...
Markets and U.S. Policy: Trade deals, the Fed and more
30 Jun 2025
Contributed by Lukas
Stocks have been boosted by a variety of factors, including the Iran-Israel ceasefire and progress on a U.S.-China trade deal, says Deepak Puri, the P...
What’s next after the Fed’s "dovish hold"?
23 Jun 2025
Contributed by Lukas
“Most central banks will prefer to sit back and wait and see.” In this week’s PERSPECTIVES Weekly podcast, the Global Head of the Private Bank’...
Hedging strategies amid geopolitical tensions
16 Jun 2025
Contributed by Lukas
Geopolitical instability is back in focus for markets after Israel’s attack on Iran. "Those kind of market events, it's good to review your portfoli...
What to watch as markets head to the summer months
09 Jun 2025
Contributed by Lukas
The Private Bank just published an updated 12-month outlook for markets and the economy, and "We clearly have investments on our mind”, says Dr. Dir...
Tariffs on trial, and data releases for your diary
02 Jun 2025
Contributed by Lukas
“There are a lot of moving parts to this trade narrative,” says the Private Bank’s Chief Investment Officer for the Americas, Deepak Puri. Initi...
New tariff threats, and the shifting fortunes of debt markets
26 May 2025
Contributed by Lukas
Markets are focusing again on tariff policies after a period of relative calm, but that shouldn’t be too surprising, says the Private Bank’s Globa...
All eyes on business confidence as markets recover
19 May 2025
Contributed by Lukas
Markets have staged a remarkable recovery from the sell-off that began in early April, and "it's been an incredible month", says Dr. Dirk Steffen, the...
Trade talks, corporate forecasts, and the inflation outlook
12 May 2025
Contributed by Lukas
Markets are looking for clarity on what the baseline tariff rates will ultimately be among key trading partners – and the recent U.S.-U.K. trade dea...
A moment of calm after the tariff storm
05 May 2025
Contributed by Lukas
Markets have been in a period of relative calm since the significant moves that followed ‘Liberation Day’, but "I'd be a brave man to predict no v...
On the lookout for tariff clarity
28 Apr 2025
Contributed by Lukas
Developments in U.S. tariff policy suggest that, when markets have a strong reaction, the White House is prepared to change course, says the Private B...
Tariff u-turn as earnings season kicks off
14 Apr 2025
Contributed by Lukas
Tariff moves from the U.S. administration have continued to hold centre stage, and "it has been a very volatile period,” notes Deepak Puri, the Priv...
The tariff market jolt: where we go from here
07 Apr 2025
Contributed by Lukas
The Trump administration has rolled out its global tariffs and markets have slumped in response, but "it's our job to keep calm and invest in a very d...
The peak of policy uncertainty
31 Mar 2025
Contributed by Lukas
In this week’s PERSPECTIVES podcast, we look ahead to “Liberation Day” – the term used by President Donald Trump to describe Wednesday, April ...
Inflation, Tariffs and the Growth Dilemma
24 Mar 2025
Contributed by Lukas
Rarely does a week go by without tariffs being in the spotlight. In this week’s PERSPECTIVES podcast, we asked Christian Nolting, our Global Chief I...
An updated outlook, and a Fed decision on tap
17 Mar 2025
Contributed by Lukas
The private bank is standing by its positive market outlook for the next 12 months, and "it will be an earnings-driven market", says Dr Dirk Steffen, ...
Volatility amid tariff back-and-forth
10 Mar 2025
Contributed by Lukas
Much of the recent market volatility can be attributed to the wave of on-again-off-again tariff threats from the U.S., which "always result in a big r...
What’s behind the strength in European stocks?
03 Mar 2025
Contributed by Lukas
The Federal Reserve’s preferred inflation gauge inched down at the end of last week, but "the main topic remains, for me, inflation", says the Priva...
Sturdy stocks, stubborn interest rates
24 Feb 2025
Contributed by Lukas
The stock market's ongoing strength in the face of geopolitical instability "is really driven by the fact that the economy is still quite resilient", ...
Inflation’s forex influence, and signs of strength in China
17 Feb 2025
Contributed by Lukas
A recent uptick in U.S. inflation has lowered expectations for softer Federal Reserve policy ahead – a situation that could continue to support the ...
Earnings strength, and a complex tariff picture
10 Feb 2025
Contributed by Lukas
A strong fourth-quarter earnings season so far "comes just as the right time, because we have so many things to deal with on the political side and a ...
What’s next for A.I., and central banks
03 Feb 2025
Contributed by Lukas
Markets had a bumpy week amid competitive shifts in the artificial intelligence sector. But that is not necessarily a bad thing, says the Private Bank...
All eyes on the U.S.
27 Jan 2025
Contributed by Lukas
In this week’s PERSPECTIVES Weekly podcast, the Private Bank’s Chief Investment Officer for the Americas, Deepak Puri, reflects on what has been a...
Two elephants – tariffs and China growth
20 Jan 2025
Contributed by Lukas
In this week’s Perspectives Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in APAC, Stefanie Holtze-Jen, discusses...
Tremors in the bond market, and an earnings season preview
13 Jan 2025
Contributed by Lukas
Bond markets have kicked off 2025 with “a significant spike in yields, and this is now firmly on investors' minds,” says Dr Dirk Steffen, the Priv...
The last Fed meeting of 2024
16 Dec 2024
Contributed by Lukas
The Federal Reserve is expected to deliver an interest-rate cut this week, but markets may not get as many U.S. rate cuts in 2025 as they anticipate, ...
Jobs data, Fed policy, and the outlook for stocks
09 Dec 2024
Contributed by Lukas
A somewhat mixed U.S. jobs report has boosted expectations for an interest-rate cut at the Federal Reserve’s last policy meeting of the year, says D...
Climate investment: the news from COP29
02 Dec 2024
Contributed by Lukas
COP29, this year’s iteration of the UN’s annual climate-action conference, took place in Baku, Azerbaijan, and much of the conversation was about ...
Beyond turkey and pumpkin pie: all eyes on the US consumer
25 Nov 2024
Contributed by Lukas
Just ahead of Thanksgiving and with the opening of the Christmas markets in some European countries, we're taking a closer look at consumption. "So fa...
The fiscal picture comes into focus
18 Nov 2024
Contributed by Lukas
Markets have been on the rise since the U.S. election, a mood that the Private Bank’s Chief Global Investment Officer, Christian Nolting, described ...