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1082 (71-80)
May 10, 2022
Region:
We expect the German residential property market cycle to come to an end during the current decade. A combination of our different approaches suggests that, despite the uncertainties, the cycle will probably end in 2024. Prices will not necessarily undergo a massive correction from their peak, our baseline scenario foresees an isolated ending of the cycle. As migration inflows were low and new construction activity has been dynamic during the pandemic, fundamental supply shortages are a thing of the past for many German cities. The current refugee wave will only temporarily weigh on the market. [more]
May 5, 2022
Region:
In 2021, global sales in the semiconductor industry reached an all-time high of USD 556 bn. Despite this record figure, the industry currently faces severe challenges as the present semiconductor cycle is characterized by a triple whammy: Huge demand due to a boost for digitalization, COVID-related and non-COVID related supply shortages and geopolitical tensions. Due to the sharp rise in chip demand, new chip factories are currently being built in the US, Asia and Europe to meet rising demand over the next decade. We think, the present sales cycle will be extraordinary long. [more]
April 29, 2022
Region:
Like the real economy, the European banking sector is facing headwinds due to Russia’s war in Ukraine. Nevertheless, balance sheets and profitability are strong; indeed, 2021 was banks’ most successful year since the financial crisis and capital ratios are at record highs. And while loan loss provisions may now rise from unusually low levels, net interest income should also benefit considerably from higher interest rates as central banks combat surging inflation. However, both geopolitical and macroeconomic policy uncertainty remain remarkably high. [more]
April 29, 2022
Deutsche Bank Research has launched a new series of Asia Corporate Strategy Notes for our corporate clients, focusing on risk management recommendations in currency and rates markets.

The first report in this series argues that corporations should take advantage of declining Asia FX hedging costs to raise USD and EUR hedge ratios. [more]
April 27, 2022
Recent geopolitical events present an ESG conundrum. In Europe, exclusions for nuclear and defence were at their highest heading into the Ukraine crisis, which led to a debate regarding the social merit of certain defence capabilities and nuclear energy exposure. In our view, the debate will contribute to more inclusive approaches from asset managers regarding ESG investing strategies. This aligns with themes we heard at our Global ESG conference in early March. [more]
April 27, 2022
Analyst:
Deutsche Bank Research recently hosted its second annual Global ESG conference in March of this year. The purpose of the virtual event was to enable corporate & investor engagement on sustainability strategies. In addition to corporate presentations and meetings, Michael Bloomberg, UN Secretary-General’s Special Envoy for Climate Ambition and Solutions and Chair of the Task Force on Climate-related Financial Disclosures served as the keynote speaker. Featured sessions included Nike's Sustainabilty team and Mastercard's Shamina Singh, Founder & President of the Center for Inclusive Growth. [more]
April 27, 2022
We are undergoing a paradigm shift in macroeconomics. Consensus forecasts have been consistently wrong over the last decade, and over the last couple of years alone they underestimated the scale of the pandemic rebound, the inflationary impact of the stimulus packages, and the fact they weren’t transitory. [more]
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