Deutsche Bank

Michael Lewitt: "We're In The Late Stages of Ponzi Finance"

“They’ve tried to solve the debt crisis by printing trillions of dollars of more debt, and somehow they expect the economy to grow under the weight of those burdens. We’re just borrowing new money to pay back old money. I would say that we’re in the late stages of Ponzi finance.”

Deutsche Bank Calculates How Much Of The S&P's Value Is Due To Central Banks

If the ERP is responsible for 92% of the S&P500 move since 2012, or just over 800 points, that would imply that central bank policies are directly responsible for approximately 40% of the "value" in the market; any moves to undo this support could result in a drop that leaves the S&P in the neighborhood of ~1,400.

Recession Odds Spike To 37%, JPM Calculates, Highest Yet For This Cycle

While not as dire as the recent analysis by Deutsche Bank, overnight JPM released its latest recession probability analysis, and - somewhat unexpectedly following the last two stellar job reports and a full court political press that the recovery has rarely been stronger going into the election - now sees a 37% chance of a recession in the next 12 months. This is the highest recession probability calculated by Jamie Dimon's bank during the current economic cycle, and matches the odds first laid out in early July.

Vice Chairman Of Lotte Hangs Himself Hours Before Criminal Probe

The past several years have seen a surprising spike in professional suicides, mostly confined to the banking sector in general and Deutsche Bank in particular. Overnight this tragic group expanded into multinational corporation sector, after one the top executives at South Korea's multination conglomerate Lotte Group was found dead on Friday, in what is a suspected suicide, in what police described was a "typical case of death by hanging."

Deutsche Bank CEO Warns Of "Fatal Consequences" For Savers

The CEO of Deutsche Bank unveiled a striking warning, which however, in was not aimed at his old nemesis Mario Draghi, but at Germany itself, hinting that if Deutsche Bank goes down it is taking everyone down with it, when he warned of "fatal consequences" for savers and pension plans.

Four More Mega-Banks Join The Anti-Dollar Alliance

Today, four of the world’s largest banks announced a brand new joint venture to create a new financial settlement protocol built on blockchain technology. Deutsche Bank from Germany, UBS from Switzerland, Santander from Spain, and Bank of New York Mellon have joined together to launch what they’re naming the very un-sexy “utility settlement coin”. If foreign banks are able to transact directly with one another without having to go through the US banking system, then why would they need to park trillions of dollars in the United States?

S&P Set For New Record Highs As Futures, Dollar Rise; Oil Slides

In a rerun of yesterday's overnight session, European indexes trade higher while US index futures were modestly in the green, set to propel the S&P 500 to new all time highs. Emerging Market dropped the most in three weeks alongside commodities, as today the market was predisposed hawkishly on a US rate hike ahead of Yellen's Friday speech, pushing the US dollar higher and oil resumed its pre "anonymous sources" headlines slide.

The First Victims Of The Libor Surge Have Emerged... In Japan

So far US banks have escaped the recent Libor surge, but the higher funding costs and shrunken market are hitting Japanese banks particularly hard, as they have been sourcing as much as a third of their U.S. dollar liquidity in the short-term U.S. market. Japanese banks have about $125 billion to $150 billion of CP and CDs maturing before the end of September.

CLSA: "The Bank Of Japan Has Nationalized The Japanese Stock Market"

The Bank of Japan's near doubling of its purchases of Tokyo shares is causing investors to worry the central bank will dominate financial markets, which could lead to price distortions as it continues to grease the economy. It also prompted a CLSA analyst to tell the truth: "The BOJ is nationalizing the stock market."