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Luke Templeman

Macro Strategist

Macro Research

Address:
Deutsche Bank AG, Filiale London
IB - Research
Winchester House, 1 Great Winchester Street
EC2N 2DB London

Contact
Deutsche Bank Research

Analysis and studies from Luke Templeman

106 Documents
    
May 30, 2023

Can AI help high-labour firms to boost returns?

Region:
International
Analyst:
Adrian Cox, Luke Templeman, Olga Cotaga
Podzept (Podcast series)
1
Artificial intelligence offers the tantalising prospect of improving the perennial underperformance of companies with many employees.

In this podcast, Luke Templeman, Olga Cotaga and Adiran Cox discuss why high-staff companies tend to have a lower market capitalisation, thinner margins and lower growth rates than lower-staff ones. They analyse evidence that suggests AI could enable high-employee companies to get more value from each staff member. That may generate an outsize benefit in return on equity and potentially catalyse equity market returns in the years to come. [more]
May 24, 2023

Can AI save high-labour firms?

Region:
International
Analyst:
Luke Templeman, Olga Cotaga
Thematic Research
2
Companies with a large number of employees have a big problem. Quite simply, they fail to extract as much value from each staff member as do low-staff firms. Indeed, labour-intense firms tend to have a lower market cap, thinner margins, and lower growth rates.
AI may be the way forward. In this piece, we argue that AI will make workers more productive, particularly in high-staff firms. The reason is that the profitability of high-staff firms has the highest leverage to the performance of their labour force. AI will help upskill them and streamline repetitive and mundane tasks that are more prevalent in high-staff companies. [more]
March 21, 2023

Reshoring's impact on markets and economies

Region:
International
Analyst:
Luke Templeman, Olga Cotaga
Podzept (Podcast series)
3
What happens when geo-political tensions create a sense of insecurity in corporate CEOs? One result is that some are reshoring. This applies to both manufacturing and services – both supply chains and operations. In this podcast, Luke Templeman and Olga Cotaga discuss how to identify the reshoring theme and how it has accelerated dramatically over the last couple years. In addition, they consider some of the countries that are best placed to capitalise on the trend and how investors can think about the effects on asset allocation. [more]
February 24, 2023

16 themes driving markets and economies

Region:
International
Analyst:
Adrian Cox, Luke Templeman
Podzept (Podcast series)
4
How do we identify the key themes that are driving markets and economies, and also incorporate their impact into investment and corporate decisions? Adrian Cox asks Luke Templeman about his latest report ’16 themes driving markets and economies’. It highlights the top themes and explains how applying a common framework across different themes is necessary to assess how those themes can affect each other. “You can read something written by intelligent people on theme A and then theme B, and they might make sense individually, but they may overlap in ways that are mutually exclusive. That’s what really interests me”, says Templeman. [more]
December 7, 2022

Top 10 themes for 2023

Analyst:
Luke Templeman
Thematic Research
6
People often ask me how we choose our themes of the year ahead. It is not a hard science, but there is a framework we use. It starts by asking the following question: “What policies and developments in the economic, business, and political world are unsustainable, and what will it take for them to become sustainable?”. [more]
November 23, 2022

Top 8 notable takeaways from COP27

Region:
International
Topic:
Sustainability
Analyst:
Debbie Jones, Luke Templeman, Tejasvini Viraj
Thematic Research
7
Overall, was COP27 a success or failure? The answer likely depends on your expectations going into the conference. The event took place against a difficult geopolitical backdrop, rising inflation and an energy security crisis that some nations interpret as support for energy diversification strategies that align with fossil fuel growth. In a recent dbSustainability report the team discuss top 8 takeaways from COP27. [more]
November 9, 2022

COP27: What to expect

Region:
International
Topic:
Sustainability
Analyst:
Debbie Jones, Luke Templeman, Tejasvini Viraj
Thematic Research
9
The next iteration of UNFCC’s Conference of Parties, COP 27 is taking place in Egypt. As part of the Global South and home to one of world’s most diverse marine life, the location of Sharm-El-Sheikh in Egypt is quite relevant to this year’s conference. The event serves as the United Nation’s (UN) annual Climate Change summit and is intended to bring ~200 countries together to accelerate action towards goals of the Paris Agreement (2015) and limiting global warming to 1.5 degrees above pre-industrial levels. [more]
November 7, 2022

COP27: Adapting to food inflation Part I

Region:
International
Topic:
Sustainability
Analyst:
Christian Wietoska, Luke Templeman, Olga Cotaga, Samira Kalla
Thematic Research
10
Amidst the backdrop of rampant food inflation, this year’s COP27 in the Egyptian city of Sharm El-Sheikh (November 6-18) will be critical. That is because food inflation has been stronger than overall inflation. In fact, in March the US hit an inflection point when food and beverages CPI outpaced broader CPI. This is not just a US issue. The food inflation problem is a global phenomenon. [more]
September 28, 2022

Long-Term Asset Return Study 2022: How we got here and where we're going…

Region:
International
Analyst:
Adrian Cox, Henry Allen, Jim Reid, Luke Templeman
Thematic Research
11
In a new annual report ‘Long-term asset return study 2022: How we got here and where we’re going…..’ our thematics team explore 2022, which has been one of the toughest years for financial markets in decades. Bonds and equities are declining in unison, and we are now in the first global bear market for government bonds in 70 years. Read an extract touching on these themes, but with the main report focusing on how we got into the perilous economic, social and political situation in which we find ourselves today. Clients of Deutsche Bank Research can access the full report here. [more]
September 14, 2022

Trading asset turnover

Region:
International
Analyst:
Galina Pozdnyakova, Luke Templeman
Corporate Bank Research
12
The two big drivers of corporate returns over the last decade have been upended in 2022. Specifically, corporates can no longer rely on higher debt or fatter profit margins as they have done post-financial crisis. Instead, to increase returns on equity, they might need to focus on generating more sales from existing assets - in other words, boost their asset turnover. [more]
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