In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Officer in APAC, Stefanie Holtze-Jen, weighs in on a couple of central-bank surprises: one in the United States, that "the markets really took as a dovish sign", and another in Switzerland, where an earlier-than-expected move to cut rates put it out of step with the European Central Bank. "The initial reaction has been in the currency markets," she said.Japan was also in the spotlight after it ended its long experiment with negative interest rates, and "the equities market continued to rise." In China, key economic data are expected in the week to come – and also in the U.S., where there will be an update on the Federal Reserve's preferred measure of inflation.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. © 2024 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 

The podcast discusses upcoming central bank meetings, potential changes in interest rates by the Bank of Japan, and inflation as a major topic for investors. It also touches on the impact of political events like elections on investment discussions, providing insights on factoring macro events into portfolios.

In this week’s CIO Weekly Investment Outlook podcast, the Private Bank’s Chief Investment Strategist and CIO for EMEA, Dirk Steffen, comments on the latest ECB meeting, where the central bank’s language pointed to a potential rate cut in June. Turning to the US, where growth is stronger, Dirk reflects on the latest jobs report which he describes as “encouraging and constructive for markets” and data hinting at the possibility of “no landing at all”.For this week, inflation remains high on the agenda with US inflation, consumer sentiment and retail data due this week. Also interesting to watch are the wage negotiations set to take place in Japan, which may provide a hint to the Bank of Japan’s next move.For more investing insights, please visit deutschewealth.comIn 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. © 2024 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

Podcast discusses strong start for US equities, drivers behind it, latest PCE results affecting interest rates. Foresee a busy week for the US from economic and political standpoint. Exploration of surge in tech stocks, market exuberance risks, potential Fed rate cuts, upcoming events like US jobs report, GOP Super Tuesday, Bidenomics, climate change initiatives, infrastructure investments, and legal disclaimers.

Exploring what's driving the Nikkei to new highs in Japan, structural reforms, wage growth, and Yen weakness. Analyzing Chinese equity markets post Lunar New Year. Looking ahead to key data in the US and Eurozone, Federal Reserve insights, and election impact. Acknowledging risks in investments.

In this episode of the Weekly Investment Outlook Podcast, Dirk Steffen, Chief Investment Officer for EMEA, outlines the current landing debate after US inflation numbers came in firmer than expected.Dirk said that "discussions have ranged from a possible severe recession some time ago to a soft landing in recent months. But today, we are discussing a scenario that could mean no landing at all.”Dirk also shares his take on the UK and Japan entering a technical recession in Q4 2023, elaborates on very encouraging statistics from Chinese consumers during Lunar New Year and discusses the strong earnings season of the augmented tech sector.For more investing insights, please visit deutschewealth.comIn 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. © 2024 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

In our latest CIO Weekly Investment Outlook podcast, the Private Bank’s Global Chief Investment Officer, Christian Nolting, reflects on a positive week for corporate earnings and U.S. equities, with the S&P 500 hitting a new all-time high.For the week up front, he’ll be keeping a close eye on inflation – especially the latest U.S. CPI reading – as well as further earnings releases. He also shares the questions and topics that are at the forefront of our clients’ minds, having spent the last few weeks on the road talking to clients about his outlook for 2024.For more investing insights, please visit deutschewealth.comIn 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. © 2024 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

Discussion on earnings season and the success of tech companies, the impact of artificial intelligence investments, market expectations of rate cuts, potential for corporate reforms in South Korea, and future pockets of growth.