Deutsche Bank is expected to report higher third-quarter profit on Tuesday and avoid more job cuts, benefiting from the recovery in bond trading that helped lift earnings of some U.S. and Japanese peers.

Trading in debt-related products is one of biggest profit drivers at Germany's largest bank, which is already cutting 15 percent of its investment banking workforce.

Fixed-income markets got a boost from European Central Bank president Mario Draghi's promise in August to do "whatever it takes" to save the euro.

By contrast, Swiss rivals Credit Suisse and UBS are redoubling efforts to slash costs and jobs, as the euro zone debt crisis and tighter regulations force banks to rethink their business models.

Deutsche Bank may benefit as Swiss competitors retrench, analysts said.

"Leading players Barclays , JP Morgan and Deutsche Bank will probably take market share as others exit key areas of investment banking. It's very much separating the wheat from the chaff," Mediobanca analyst Chris Wheeler said.

Year-to-date, Deutsche Bank is in second place globally among the bookrunners for global debt, behind J.P. Morgan, Thomson Reuters data released on October 25 shows.

UBS is expected to announce up to 10,000 job cuts as it takes the knife to its investment banking operations, particularly in volume businesses such as fixed-income where it lacks scale. It reports quarterly results on Tuesday.

In late September, Deutsche Bank's Jain told investors the bank had seen a "very solid" performance in the third quarter.

Deutsche Bank is expected to report third-quarter pretax profit rose 13 percent to 1.06 billion euros (854 million pounds), the average of nine estimates in a Reuters poll of banks and brokerages showed.

Improvements in fixed-income markets have already underpinned earnings at Japanese rival Nomura, and helped Morgan Stanley beat estimates.

In July, Deutsche said it would cut 1,900 jobs and last month signalled that job losses may exceed this number.

After announcing 3,500 job cuts Credit Suisse last week said job further losses would be inevitable.

(Reporting By Edward Taylor; Editing by Erica Billingham)