Please find enclosed the latest edition of our PERSPECTIVES Viewpoint – designed to provide regular, up-to-date analysis of key trends in all the major asset classes.

 

As bond yields rise across major markets, investors are facing a global repricing driven by shifting monetary policy expectations, fiscal expansion, energy dynamics and changing risk premia. In this latest PERSPECTIVES Viewpoint Fixed Income - The yield rise goes global, we examine what is behind the synchronised move in yields and where opportunities may emerge for fixed-income investors.

 

Key takeaways:

  • Bond yields are surging globally, with a focus on monetary expectations, fiscal expansion, issuance, and term premia.
  • AI investment and fiscal supply are key drivers in the US; energy exposure matters more in Europe
  • Election cycle weighing in France, improving discipline supporting Italy, and growth bolstering Spain.
  • Japan remains focused on policy normalisation; the UK faces inflation and fiscal constraints.

The PERSPECTIVES Viewpoint is currently available and client-ready for the following regions: Germany, Americas, Europe, Middle East, Africa and Asia Pacific.

PDF

Language:

Related special reports

podcast hero

PERSPECTIVES Weekly Podcast

October 12 – EU-China trade, energy prices, and inflation data

A summit of European leaders this week is likely to focus on the EU-China trade relationship, says Dr. Jacky Tang, the Private Bank’s CIO for emerging markets. “Europe is becoming more cautious about China. But that's also different from saying that it wants to walk away completely,” Jacky says.

Oct. 12, 2026

TBC

PERSPECTIVES Viewpoint FX

Central banks back in the spotlight

After several weeks during which geopolitical developments were the dominant driver of currency markets, central bank policy has once again emerged as a decisive influence on exchange rate movements. We assess the likely direction of major currencies and the key factors expected to shape their performance.

Oct. 02, 2026

supply disruption powers up prices desktop

PERSPECTIVES Viewpoint Commodities

Supply disruption powers up prices

Explore the latest commodities outlook as supply disruptions, energy market volatility, central bank gold demand and growing copper needs from electrification and AI influence commodity prices.

Oct. 01, 2026

Skyline against office building

PERSPECTIVES Viewpoint Fixed Income

Credit spreads’ quiet resilience

Corporate bond yields have also moved higher, largely because of the rise in underlying benchmark yields. Spreads to these benchmarks, however, have remained broadly resilient. We explore the implications in this publication.

Sep. 29, 2026

saudi oil supply at risk

PERSPECTIVES Memo

Saudi oil supply at risk

Rising geopolitical tensions and renewed concerns over Saudi oil supply have triggered market volatility. Our experts examine the implications for energy prices, equities and long-term investment strategy.

Sep. 21, 2026

sports investing stability growth value creation dekstop

PERSPECTIVES Special

Sports Investing: Big league opportunities

Learn how professional sports are evolving into a major investment opportunity, supported by powerful brands, recurring revenues, global reach and pricing power.

Sep. 14, 2026

See more

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.

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.

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.

This web page is not an offer to buy a security or enter into any transaction. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consider the sales restrictions relating to the products or services in question for further information. Deutsche Bank does not give tax or legal advice; prospective investors should seek advice from their own tax advisers and/or lawyers before entering into any investment.