DEUTSCHE BANK TELLS U.S. WORKERS TO STAY HOME

Deutsche Bank’s U.S. employees working from home can expect to continue the arrangement until at least July 2021, the bank announced.
Workers had asked for a clear policy statement, so they can make long-term arrangements regarding child care and other details.
In a memo to its staff, the bank acknowledged their “understandable concerns about public transport, cleanliness, security, and other quality of life issues” and that “many of you do not want to return” soon to the bank’s Wall Street offices.
The memo said Deutsche Bank will open a new office and trading floor next summer near Columbus Circle.
TREND FORECAST: We maintain our forecast for a sharp contraction in commercial real estate in major U.S. cities, as more people are afraid to go to work and work from home. We will keep you apprised of where and when we see a rebound in this sector.