  An explicit evaluation of the spin asymmetry of the deuteron and the
associated GDH sum rule is presented which includes disintegration, single and
double pion and eta production. For the GDH integral a large cancellation is
found between the disintegration channel and the meson production channels.
Furthermore, first results for the contribution of the disintegration channel
to the generalized GDH integral at constant four-momentum transfer reveal a
dominance of the isovector M1 transition to the $^1$S$_0$-state near threshold
resulting in a negative contribution with a minimum around $Q^2\approx 0.2$
fm$^{-2}$ which is driven by the nucleon anomalous isovector magnetic moment.
