You ready for another week of financial turmoil?

<p>Kia ora,</p><p>Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.</p><p>I'm David Chaston and this is the international edition from Interest.co.nz.</p><p>And today we lead with news investors are bracing for another week of financial turmoil.</p><p>But first up, there has been a "<a href="https://www.theaustralian.com.au/nation/politics/nsw-election/results" target="_blank"><strong>thumping win</strong></a>" for the Labor Party in the NSW state elections, far more decisive than anyone expected. The Greens struggled and got no coat-tail advantage. Their Teals held on to repeat some of the Federal election gains. The hard-conservatives, characterised by the religiously-inspired Abbott and Morrison leadership suffered another big loss and is finding its culture war stands are losing stands.</p><p>In Europe, markets are increasingly <a href="https://www.dw.com/en/deutsche-bank-stocks-slump-as-sector-fears-grow/a-65109004" target="_blank"><strong>worried about Deutsche Bank</strong></a>. It has been eyed for years over some long-standing shady practices often with Russia, but now, post-Credit Suisse, confidence is leaking away to a serious extent. On March 9, its share price was €11.51. It ended on Friday at €8.54. Shareholders are nursing a -25% dive in just two weeks on growing speculation the giant German bank could be following Credit Suisse's deadly path. It has wide-ranging <a href="https://www.reuters.com/legal/deutsche-bank-settles-lawsuit-over-16-bln-bernard-madoff-claims-2023-03-24/" target="_blank"><strong>issues</strong></a>. When confidence in a bank goes, it can go suddenly. The German Government is <a href="https://www.ft.com/content/963d8fde-1bd0-4285-98f4-715248119f2a" target="_blank"><strong>scrambling</strong></a> to reassure the market. But the odour is affecting many other banks as well.</p><p>On a more positive note, <a href="https://www.pmi.spglobal.com/Public/Home/PressRelease/4647975569084fc1bf64aa81966e2387" target="_blank"><