Deutsche Bank

"From Nukes To Terrorism": Battered Investors Flee Risk For Safety Of Bonds And Gold

"In a week where we started by worrying about nuclear war, markets have quickly moved on from this, with yesterday's weak session more of a response to fears that Mr Trump's strategy for the economy and business is falling apart and later the terrible terrorist attack in Barcelona," is how DB's Jim Reid summarized the week's psychedelic events.

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

US Equities Are Now 'Safer' Than Foreign Exchange

While Draghi shook things up in late June, it appears to be Janet Yellen's flip-flop that has sparked the latest regime shift in global capital markets. Since then, traders' expectations for foreign exchange uncertainty has surged, while the outlook for equity, rate, and oil uncertainty has tumbled. This has left the market now seeing equities as safer than currencies...

As D-Day Looms, The Maturity Of ECB's Bund Purchases Drops Again

In its latest monthly purchase, the ECB revealed that the estimated weighted average maturity of purchases of German bonds under the ECB’s PSPP in July declined once again to around 5.18 years vs 5.33 years in June, although it was modeslty higher compared to the record lows of 3.99 years in May and 4.7 years in April and March.

Europe's Banking Dysfunction Worsens

Investors who think that Europe is close to adopting an effective approach to dealing with failing banks may want to think again....

Frontrunning: July 28

  • ‘Skinny’ Repeal of Obamacare Fails (WSJ)
  • Bad News If You Make $150,000 to $300,000: Higher Taxes for Many (WSJ)
  • Senators Move to Block Trump From Ousting Sessions (WSJ)
  • Amazon’s Expansion Takes Toll (WSJ)
  • Japan Slaps 50% Tariff on Some U.S. Beef (WSJ)

Frontrunning: July 27

  • Healthcare showdown (Reuters)
  • Tax Overhaul in Doubt With House Stuck on Budget Disagreements (BBG)
  • Dollar steadies after Fed skid, shares hit new highs (Reuters)
  • Samsung Is Closing In on Apple as World’s Most Profitable Tech Firm (WSJ)
  • Sweden's PM Refuses to Resign After Cyber-Security Scandal (BBG)

Global Stocks Hit New All Time High As Dollar Rebounds; Europe Volatile On Earnings Deluge

The levitation continues with S&P futures pointing to - what else - another higher open while European stocks swung between gains and losses on the busiest earnings days of the year (85 of the Stoxx 600 report) which has seen European pharma giant AstraZeneca plunge 15%, the most on record, after its flagship lung cancer trial Mystic failed to show benefits, while Deutsche Bank slumped 4% on a 12% plunge in FICC revenue.