Group 1 - The former German Finance Minister, Christian Lindner, expressed caution regarding the merits of fiscal stimulus in the short term [1] - Discussion included the impact of tariff politics on the macroeconomic environment in Germany [1] - The conversation aimed to assess how the implementation of fiscal stimulus could benefit the bank [1]

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Core Viewpoint - Deutsche Bank's CFO James von Moltke indicated that the bank expects its fixed income and foreign exchange (FIC) trading revenue to exceed current analyst expectations for Q3, projecting at least a high single-digit percentage growth, which is slightly above market consensus [1] Group 1: Financial Performance - In Q2, Deutsche Bank reported a net profit of €1.485 billion (approximately $1.75 billion), a significant turnaround from a loss of €143 million in the same period last year, surpassing analyst expectations of €1.2 billion [2] - The bank's Q2 revenue was €7.804 billion, in line with market expectations, driven by strong performance in fixed income and foreign exchange trading, which offset the impact of euro appreciation and declines in some traditional business areas [2] - The FIC business saw a year-on-year revenue increase of 11% in Q2, benefiting from higher net interest income in financing and foreign exchange market volatility [2] Group 2: Business Outlook - The bank's M&A and equity and debt issuance advisory business faced more challenges in the first half of the year than anticipated, but a recovery is expected in the second half, aligning with the bank's expectations for the current quarter [1] - Overall, Deutsche Bank's investment banking momentum from July has continued into the current quarter, indicating a positive outlook for the business [1]

Deutsche Bank is on track to report higher revenue from trading fixed income and currencies in the third quarter than analysts currently expect, its CFO says https://t.co/qAorTahoLT ...

Core Insights - Deutsche Bank anticipates that revenue from its fixed-income and currency business will surpass consensus expectations in the third quarter [1] - The consensus forecasts for revenue in the retail business are considered slightly high by the company's chief financial officer James von Moltke [1] Revenue Expectations - Fixed-income and currency business revenue is expected to exceed market consensus [1] - Retail business revenue forecasts are viewed as somewhat optimistic [1]

【德意志银行预计2026年黄金均价达每盎司4000美元，还上调2026年白银目标价】德意志银行预计，到 2026年，黄金平均价格将攀升至每盎司4,000美元，原因在于美联储降息会促使金价延续创纪录的涨 势。 德意志银行贵金属分析师Michael Hsueh周三在一份报告中指出，对2026年金价的新预测与金价支 撑位的上扬相契合，公允价值模型显示，鉴于各国央行的过度需求，金价仍具备上涨空间。 他写 道："我们预计黄金价格相对于这些模型的溢价会持续。"还补充说明明年央行购买量可能达到900 吨。"比起回调至公允价值，金价更有机会进一步上涨。" 本周早些时候，因投资者押注美联储将在周 三晚些时候降息，金价突破每盎司3700美元，创下历史新高。德意志银行预计美联储到今年年底前将降 息三次。 Hsueh写道："美联储失去独立性的可能性显然对看涨黄金构成风险。"他还表示，德意志银行 的最新预测并未把这种情况考虑在内，因为央行的决策尚未明显偏离政策正统。不过他提到，联邦公开 市场委员会成员构成即将改变，这带来了"对美联储明年应对机制影响的不确定性"。 随着白银迈向连 续五年的现货短缺，Hsueh还将德意志银行对2026年白 ...

Group 1 - Deutsche Bank Aktiengesellschaft reported the highest second-quarter and first-half profits in fiscal 2025 since 2007, with first-half profits before tax more than doubling to €5.3 billion from €2.4 billion year-over-year [1] - Net profit surged to €3.7 billion, up from €1.5 billion in the same period last year [1] Group 2 - Wall Street has shown bullish sentiment towards Deutsche Bank, with the stock gaining over 11% following the profit release [2] - Morgan Stanley reiterated a Buy rating on Deutsche Bank, raising the price target from $37.53 to $41.05 [2] - RBC Capital also reiterated a Buy rating with a price target of $39.87 [2] Group 3 - Deutsche Bank is recognized as a global financial institution providing a wide range of banking and investment services [3]

Deutsche Bank supports the establishment of the Defence, Security and Resilience Bank (DSRB), an initiative to create a global state-backed defence bank to fund countries' rearmament, it said on Wedne... ...

Group 1 - Deutsche Bank believes that gold has further upside potential, forecasting an average price of $4,000 per ounce in the next year, with a 40% increase year-to-date, marking the strongest annual gain since 1979 [1] - Analyst Michael Hsueh states that the current demand for gold is driven by U.S. government policy uncertainty, concerns over the dollar, and geopolitical instability, with various investors entering the market [1] - Central bank purchases, particularly from the People's Bank of China, are supporting further market increases, with current buying levels approximately double the average from 2011 to 2021 [2] Group 2 - Deutsche Bank anticipates a restart of the Federal Reserve's easing cycle, predicting three rate cuts in 2025 and a stable rate in 2026, amid challenges to the Fed's independence [2] - Other major Wall Street firms have also raised their gold price forecasts, with UBS predicting $3,800 per ounce by the end of 2025 and $3,900 by mid-2026, while JPMorgan expects spot gold to exceed $4,000 in Q1 2026 [2] - Goldman Sachs suggests that if the private sector reallocates 1% of U.S. Treasury holdings to gold, prices could approach $5,000 per ounce [2] Group 3 - Potential risk factors include strong stock performance, immigration policy impacts on U.S. labor supply, and seasonal influences, with the fourth quarter typically being a weaker period for gold prices [3] - Positive outcomes in U.S. trade negotiations could reduce investment uncertainty, posing another risk to gold prices [3] Group 4 - Deutsche Bank has raised its silver price forecast from $40 per ounce to $45 per ounce [4]

Core Viewpoint - Deutsche Bank has raised its gold price forecast for next year to an average of $4,000 per ounce, citing strong central bank demand, potential U.S. dollar weakness, and a resumed Federal Reserve rate-easing cycle [1]. Group 1: Gold Price Forecast - The forecast was increased from a previous expectation of $3,700 per ounce, reflecting downside risks to the Federal Reserve's base case of holding rates steady in 2026 after three anticipated rate cuts in 2025 [1][3]. - Official gold demand is continuing at twice the pace of the 2011-2021 average, primarily driven by China [3]. - The price of gold has risen about 40% year-to-date and reached a record high of $3,702.95 [4]. Group 2: Factors Influencing Gold Prices - Strong central bank demand and potential U.S. dollar weakness are key factors supporting the increased gold price forecast [1]. - Uncertainty from changes in the Federal Open Market Committee's composition and challenges to Fed independence are also seen as supportive for gold prices [2]. - The supply of recycled gold is running 4% below expected levels this year, easing limits on gold's upside [3]. Group 3: Silver Price Forecast - Deutsche Bank has raised its silver price forecast for 2026 to an average of $45 per ounce, up from $40 [4].