Not Even An OPEC Deal Will Stop Oil Going Lower, Goldman Warns

Continuing to pile on the bearish oil case, Goldman warns today that not even an OPEC deal would stop oil going lower, adding that "we remain sceptical of its impact. For one, our production forecast continues to reflect a seasonal Saudi production decline into year-end, with no growth elsewhere. Second, even with this OPEC help, our updated oil supply-demand forecast now points to a renewed build in inventories in 4Q 2016 vs. a forecast for a draw only last month.

Will Yellen Resign If Trump Wins

Trump's attack on the Fed chairwoman during this week's presidential debate was so vicious that Paul Ashworth, chief US economist at Capital Economics, now thinks it's possible Yellen will have to resign if Trump ends up becoming president.

Frontrunning: September 28

  • Stocks Rally as Deutsche Bank Slump Ends, Oil Gains Before Talks (BBG)
  • German government prepare Deutsche Bank rescue plan (Reuters)
  • German financial watchdog not working on emergency plan for Deutsche Bank (Reuters)
  • Saudi Arabia Signals Openness to Future Oil Compromise With Iran (BBG)
  • Will Congressional Face-off Over Flint Lead to a Government Shutdown? (NBC)
  • Shimon Peres, Israel's last founding father, dies at 93 (Reuters)

Futures Fail To Rebound As Deutsche Bank Tries To Comfort Markets That It Is "Fine"

After yesterday's "Hillary rally" in the US, the overnight's session has seen more risk-on sentiment as European stocks advanced, ignoring weakness in Asia as investors followed every twist of shares of beleaguered lender Deutsche Bank, whose CEO last night assured Bill readers that the bank is not seeking a bailout, which however was contradicted by a Zeit article this morning reporting that Germany may seek as much as s 25% "bailout" stake in a worst case scenario.

Germany Working On Deutsche Bank Rescue Plan As Lender Sells Unit To Shore Up Liquidity

It's all about Deutsche Bank this morning again, where after last night's vigorous denial by CEO John Cryan, who told Bild that the troubled German lender is not seeking a government bailout and that it's balance sheet is solid, earlier this morning Germany's Zeit reported that the German government is working on a contingency plan for Deutsche Bank. The German outlet writes that possible scenarios apply in case Deutsche Bank AG needed capital injection to cover litigation costs and include the option of German government taking a stake.

Jihadists Target Spain

"Spain is the land of our forefathers and we are going to take it back with the power of Allah."

The Italian Referendum: What You Need To Know

In addition to the recent note by Credit Suisse, here, courtesy of a note by UBS' Felix Huefner, is what you need to know about the upcoming Italian referendum - an event that has been dubbed by some as the most important risk event for Europe in the remainder of the year - scheduled for December 4.

Viral Surveillance Video Reveals A Shocking Scene From China's Housing Bubble

Surveillance camera caught the shocking moment new real estate in China's Hangzhou city open for sale on September 24. The spree was prompted by the wish to evade new restrictions preventing people born outside Hangzhou from buying more than one property. The result was nothing short of stunning...

Wells Execs Forfeit $60 Million; May Be Just The Beginning

Wells Fargo Special Committee of Independent Directors announces plan to claw back $60mm in unvested options from Stumpf and Toldstedt in addition to other salary, bonus and severance payments but this may be just the beginning.