Deutsche Bank - Top 10 themes for 2023

This report highlights the potential for a "soft pivot" by both China and the US as they manage their respective economies to achieve their key economic indicators, while avoiding negative consequences. The report notes that a gradual pivot is expected rather than a sudden change, which will allow each country to manage potential negative effects, while creating mutual benefits. The report notes that 2023 is unlikely to experience a spectacular one-off rally in markets but will experience volatile asset prices. The report expects 2023 to be a stable period in global politics with no general or presidential election in any G7 country, and with politicians having many challenges at home, incentives for stability will also be evident on the international stage. Finally, the report notes that the will to foster stability has been noticed in the broad reaction to Russia's invasion of Ukraine, with many countries expressing their disquiet and desire for peace.