Deutsche Bank’s Sewing Sees Trading Recovery After Slump
- CEO sees momentum after US resolved debt ceiling impasse
- Bank has warned trading will decline 15%-20% in second quarter
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Deutsche Bank AG Chief Executive Officer Christian Sewing said fixed-income trading should improve in the second half, with momentum returning to the business in recent days after the US resolved the debt ceiling impasse.
After warning last week of a 15%-20% drop in trading revenue for the current quarter, Sewing signaled that the business — the biggest driver of its investment bank — is already on the mend. Clients positioning for heightened economic uncertainty, with interest rates that are likely to stay higher for longer, should help drive activity, he said in a Bloomberg TV interview.