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 ...

Deutsche Bank foresees revenue at its fixed-income and currency business exceeding consensus expectations in the third quarter, while consensus forecasts for revenue at its retail business are a bit high, chief financial officer James von Moltke said on Thursday. ...

【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 ...

Deutsche Bank Aktiengesellschaft (NYSE:DB) is one of the Best Performing Financial Stocks So Far in 2025. Deutsche Bank Aktiengesellschaft (NYSE:DB) reported delivering the highest second-quarter and first-half profits in fiscal 2025 since 2007. The first half profits before tax more than doubled to €5.3 billion, compared to €2.4 billion in the same period last year. Moreover, net profit also surged to €3.7 billion from €1.5 billion previously. Wall Street has been bullish on Deutsche Bank Aktiengesellsch ...

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].

（文章来源：新华财经） 德意志银行将明年黄金价格预测上调至每盎司4000美元（此前为每盎司3700美元）；将明年白银价格预 测上调至每盎司45美元（此前为40美元）。 ...

Core Viewpoint - The article discusses the concept of "invisible champions," which refers to small and medium-sized enterprises that dominate niche markets but remain largely unknown to the general public. These companies focus on high-quality, specialized products and do not seek to expand their visibility or go public [4][9]. Group 1: Definition and Characteristics of Invisible Champions - The term "invisible champion" was introduced by German scholar Hermann Simon in 1990, describing companies that hold a leading position in a niche market with strong technical and product capabilities [9][10]. - Invisible champions typically exhibit unique characteristics: they are often rooted in small towns, have low employee turnover, and focus on highly specialized products that are difficult to replicate [9][10]. - According to Simon's criteria, invisible champions are defined as being among the top three in their niche globally, having annual revenues not exceeding 5 billion euros, and being relatively unknown to the public [10]. Group 2: The Landscape of Invisible Champions in Germany - Germany is home to nearly half of the world's invisible champions, with around 3,000 such companies globally, while China has fewer than 100 [10]. - The article highlights examples of German invisible champions, such as Wanzl, which dominates the global market for shopping carts with over 50% market share, and Körber, a leader in high-speed cigarette manufacturing machines [13][14]. - The strength of Germany's manufacturing sector is attributed to its high-value, technology-intensive industries, which have been cultivated over decades [15][17]. Group 3: Current Challenges Facing Invisible Champions - Recently, many German invisible champions, particularly in the automotive sector, have faced significant challenges, including bankruptcies and layoffs among major manufacturers [20][24]. - Factors contributing to these challenges include rising costs due to geopolitical tensions, such as the Ukraine conflict, and a shrinking labor force as the baby boomer generation retires [26][27]. - The rise of China's automotive industry has also impacted German suppliers, as Chinese companies increasingly opt for local suppliers with competitive pricing and quality [26][27].

法官在周二的一次听证会上表示，法兰克福行政法院可能会责令德国联邦金融监管局(BaFin)向贷款方 偿还这笔款项，这是因为此类特别征税行为符合宪法规定。法官们称，法院的这一评估尚属初步阶段， 可能会在审议过程中发生变化。 这些案例是德国金融行业与政府之间一场争论的一部分，争论的焦点在于如何处理因银行征税而产生的 资金问题。由于欧盟已制定了全欧盟范围的解决方案，这些资金已不再需要。数百家贷款机构已要求 BaFin偿还这笔款项，但政府计划将这笔资金转至一个基金，以支持小型和中型企业。 智通财经APP获悉，一家德国法院表示，德意志银行(DB.US)、意大利联合信贷银行和德国DZ银行可能 会在与该国行业监管机构的争执中胜出，从而收回他们在 2008 年金融危机后被迫缴纳的 23 亿欧元(约 合 27 亿美元)重建资金中的部分份额。 ...