Latest news with #DeutscheBankResearch
Nikkei Asia
6 days ago
- Business
- Nikkei Asia
Pakistan courts Chinese investors ahead of $250m panda bond debut
Bonds Move aims to cut borrowing costs and enter China's financial markets Issuances of panda bonds -- yuan-denominated bonds issued by foreign entities to raise money in China's domestic bond market -- hit $26.5 billion in 2024, marking an annual record, according to Deutsche Bank Research. © Reuters ADNAN AAMIR ISLAMABAD -- Pakistan is making all-out efforts to prepare its first-ever panda bond issuance this year, with its finance ministry holding a non-deal roadshow last week in Beijing to attract investment. "The ministry's delegation engaged in technical discussions with potential investors, underwriters, prospective guarantors, the Chinese Rating Agency, and Chinese legal counsel as part of the pre-marketing process for the debut issuance," Khurram Schehzad, adviser to the minister, posted on X.
NDTV
11-07-2025
- Business
- NDTV
Zurich Tops List Of World's Most Expensive Cities For Cappuccino. Mumbai Is At...
Coffee fans are always on the lookout for the best coffee in town. There is a range of coffees available, whether it's Vietnamese iced coffee, dalgona coffee, or a good old espresso. With so many options available, a cappuccino remains a classic. You can often tell if a cafe is worth its name based on how their cappuccino tastes. But every cup of coffee purchased from a cafe; comes at a cost, and that cost can vary significantly depending on where in the world you are sipping it. A recent global report has ranked the most expensive cities for buying a cup of cappuccino. Zurich Is The Most Expensive City For A Cappuccino The most expensive city in the world to buy a cappuccino is Zurich (Switzerland), with a regular cup priced at USD 6.77 (Rs 581). Zurich is followed closely by Copenhagen (Denmark), where the cost is exactly the same. Next on the list is New York (United States), where a cappuccino is priced at USD 5.95 (Rs 511). Cappuccino Prices In India: Mumbai Leads The List Given that coffee is a popular beverage across India, the list also includes major Indian cities such as Mumbai, Bengaluru and Delhi. According to the report, a regular cappuccino costs USD 2.58 in Mumbai (Rs 222), USD 2.35 in Bengaluru (Rs 202), and USD 2.07 in Delhi (Rs 178). Among Indian metros, Mumbai ranks as the most expensive for a cup of cappuccino. Top 10 Most Expensive Cities For A Cappuccino Here are the top 10 cities with the highest cappuccino prices worldwide: Zurich (Switzerland) Copenhagen (Denmark) New York (United States) San Francisco (United States) Geneva (Switzerland) Abu Dhabi (United Arab Emirates) Los Angeles (United States) Chicago (United States) Boston (United States) Dubai (United Arab Emirates) Cairo Offers The Cheapest Cappuccino Globally The list, which ranks a total of 69 cities, also reveals the most affordable destinations for coffee lovers. Cairo (Egypt) emerged as the cheapest place to buy a regular cappuccino, priced at USD 1.57 (Rs 136). What Is The Source Of This Data? The data has been published in the ' Mapping the World's Prices ' report, put together by Deutsche Bank Research using inputs from the Numbeo website. The rankings are based on crowd-sourced data collected from multiple cities across the globe.
Yahoo
10-07-2025
- Business
- Yahoo
Posthaste: It's market meltdown season and this summer there are plenty of triggers
It's summertime and the meltdowns are easy. The third quarter can be a dangerous time for markets. Historically many of the biggest crises have started in late summer when liquidity is thin and the VIX is prone to spike. Markets have been remarkably resilient this year, but there is no shortage of catalysts waiting in the wings, said Henry Allen, macro strategist for Deutsche Bank Research. Donald Trump's trade war is set to climax on Aug. 1, the deadline for reciprocal tariffs to take effect on a host of countries. On top of that, the U.S. president has begun to announce plans for sectoral duties on such products as copper and pharmaceuticals. 'Markets currently aren't pricing this in at all,' said Allen. Trump's frequent shifts and the prospect that deals will be reached before the deadline has made the market skeptical of this threat, he said. But we have already seen the carnage that comes when investors are surprised by United States' aggression. Stocks tumbled after Liberation Day on April 2 and when Trump slapped Canada and Mexico with a 25 per cent tariff in March. 'So a sharper-than-expected tariff spike in August would certainly fit in that category and could spark a fresh sell-off,' said Allen. Inflation is another trigger. So far the effect of tariffs has not shown up in the United States, but it wasn't expected to until June and July after companies had time to adjust their prices. The first of that data comes out next week. Hotter inflation would keep the Federal Reserve on the sidelines and markets, who are expecting two more rate cuts this year, would react, he said. A third is weak economic data and this one is a hair-trigger. Last summer the U.S. unemployment rate rose more than expected, breaching what's known as the Sahm rule. The market reaction was swift and brutal, with the S&P 500 shedding more than 6 per cent in just three trading sessions. Allen said what's interesting about this sell-off was the data wasn't even that bad, but it tapped into recession fears that had been brewing for awhile. 'For today, what that shows is it could just take a few days in a row of underwhelming data releases to ramp up those recession fears, even if subsequent data doesn't justify it,' said Allen. 'That's particularly so given the broad optimism that there isn't going to be a recession at the moment, in a situation where global equities are near record highs and credit spreads are tight by historic standards.' Growing fears about countries's debt loads is another vulnerability. We have already seen bond yields spike this year in the United States after the Moody's credit downgrade and in the United Kingdom last week. The problem with fiscal fears is they can become self-fulfilling, said Allen. A rise in bond yields raises doubt about debt sustainability, which then can push yields even higher. That's what happened in the summer of 2011, when the United States was embroiled in a cliff-hanging debt ceiling dispute and faced a S&P credit downgrade. Concerns about debt were also rising in Europe. The S&P 500 fell 5.7 per cent that August and another 7.2 per cent in September. The reason markets have held up so well this year is that policy makers have shown a willingness to step in when things go sideways and none of the shocks have actually affected the economy, said Allen. Everybody was worried about recession after Liberation Day, but when Trump extended the tariff deadline, in part because of bond market pressure, those fears faded. To get a long-lasting market sell-off there would have to be a shock that affects macro fundamentals and that policy makers can't fix, he said. That happened in a summer not so long ago. In late August of 2022, inflation was sky high and Fed chair Jerome Powell delivered a hawkish speech at Jackson Hole, followed by a third oversized rate hike in a row. The S&P 500 fell over 4 per cent in August and 9.3 per cent in September. to get Posthaste delivered straight to your effective tariff rate is on its way back up, after President Donald Trump announced reciprocal duties ranging from 25 to 40 per cent for 14 countries this week. When you factor in the Vietnam deal, the rate rises to 17 per cent, said Sal Guatieri, senior economist with BMO Capital Markets. Though that is lower than the 26 per cent peak in early May before the China agreement it is enough to do some damage to the U.S. economy, said the economist — in the range of about half a per cent of annual growth. Today Data: United States initial jobless claims Earnings: Aritzia Inc., Conagra Brands Inc., Delta Air Lines Inc., Richelieu Hardware Ltd. Mutual fund sales culture at banks raises red flags for market watchdogs Canada's copper trade with the U.S. under threat as Trump dangles tariff on the metal For some lucky Canadians, their pensions and retirement outlooks have never been better A B.C. couple in their 40s with three rental properties wonder if it's time to start investing in the stock market to help fund their retirement or if they should purchase a fourth income property. Family Finance crunches the numbers. Recently, we published a feature on the death of the summer job as student unemployment reaches crisis levels. We want to hear directly from Canadians aged 15-24 about their summer job search. Send us your story, in 50-100 words, and we'll publish the best submissions in an upcoming edition of the Financial Post. You can submit your story by email to fp_economy@ under the subject heading 'Summer job stories.' Please include your name, your age, the city and province where you reside, and a phone number to reach you. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Canadians are still saving, but habits are shifting amid market turmoil Copper theft is getting so bad Bell Canada is sounding the alarm Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
05-06-2025
- Business
- Bloomberg
Deutsche Bank's Raab on Markets' Response to Trade Talks
Deutsche Bank Research Cross-Asset Strategist Carolin Raab discusses markets' response to ongoing tariffs and trade uncertainty between the US and the European Union. "We clearly do see a diminishing response function," Raab tells Bloomberg Television. "We wouldn't expect, while these ups and downs along the way occur, that market reactions will be as we've seen on Liberation Day." (Source: Bloomberg)
Yahoo
07-04-2025
- Business
- Yahoo
Germany faces third possible year of contraction amid US tariffs, analysts say
By Maria Martinez BERLIN (Reuters) - The tariffs announced by the United States will deal a major blow to the German economy, delaying a recovery and possibly putting Europe's biggest economy on track for a third year of recession for the first time in history, analysts said. Germany, the biggest trading partner of the United States, had a trade surplus of a record 70 billion euros with the U.S. in 2024. An export-oriented nation, Germany will be the biggest European loser in a trade war. "Overall, the economic risks for 2025 are leaning towards a third consecutive year of recession," said Marc Schattenberg, senior economist at Deutsche Bank Research. German trade will likely suffer in three ways: exporting less to the U.S., and less to China, and it may feel an impact from an increase in competition as new markets are sought to take products previously exported to the U.S., Ifo expert Lisandra Flach said. The country "is simply facing the hard reality that the world has changed," Carsten Brzeski, global head of macro at ING, told Reuters, who also expects a contraction in 2025. Germany was the only G7 country that failed to grow for the last two years, and reviving the economy was a key topic during the campaign ahead of February's election. After the vote, the conservatives led by Chancellor-in-waiting Friedrich Merz and the Social Democrats, who are negotiating to form a government, announced a 500 billion euro ($544 billion) fund for infrastructure and sweeping changes to borrowing rules to bolster defence and revive growth. TIMELY STIMULUS "The unexpectedly huge and timely German fiscal stimulus can help to offset some of the trade war damage, but the risks to our forecasts are tilted towards lower growth," Berenberg's chief economist Holger Schmieding said. Still, the fiscal bonanza is unlikely to boost the economy in the short term, with comprehensive effects to be expected for 2026 and 2027. In the coming months, the new German government has limited options to protect its export industry and broader economy, and consumer and business confidence may remain subdued. All the economists interviewed said the trade conflict increased the need for structural reforms, and that subsidies may not be the answer. "Germany has the firepower for subsidies, but I don't think that it will and should be used for this purpose," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. Hamburg Commercial Bank recently revised the forecast for 2025 to 0.6% growth and will wait for coalition negotiations to finish before updating it. So far, the economic programme negotiated by the future coalition parties is underwhelming, economists said, urging bolder steps to speed investment and boost German competitiveness. "Trump's tariffs are another reason for the current coalition talks to really focus on structural reforms and a sustainable strengthening of the domestic economy," Brzeski said.
