Geopolitical reshaping and demographic changes are forcing market restructuring, besides the US stock market and AI, Deutsche Bank also has high expectations for the defense and military industry sector.

Deutsche Bank stated that as geopolitical fragmentation and demographic shifts reshape global markets, the U.S. stock market, artificial intelligence (AI) related industries, and defense stocks are expected to perform well in the coming years. In its latest macro trends report, Deutsche Bank stated that knowledge-intensive industries such as technology, media, telecommunications, and healthcare will benefit the most from the acceleration of AI applications and productivity improvements. The bank also pointed out that cyclical consumer industries are potential winners. The bank's strategists suggested that U.S. stock markets and those allied with the U.S. may outperform non-allied markets. They cited reasons such as the technological leadership, capital market strength, and more advantageous demographic characteristics of the U.S. compared to other advanced economies. The report took a more cautious stance on oil and gas stocks, suggesting that demographic trends, economic policies, and technological changes could suppress long-term demand. While investments in renewable energy are expected to continue growing, Deutsche Bank warned that related stocks may still face pressure. In the credit market, the bank stated that tariffs and supply chain restructuring could squeeze industrial and materials companies, potentially widening the gap between high-yield bonds and investment-grade bonds. Deutsche Bank also mentioned that with the rising demand for AI computational infrastructure spending, aging populations, and tightening fiscal situations, private capital may become a major beneficiary, especially in Europe.