Deutsche Bank

Bank of America Beats: Earnings Rise 7.3% On Rebound In Capital Markets, Expense Cuts

The last big US bank to report Q3 earnings in a 48 hour flurry of bank reports was Bank of America, which moments ago announced that it had earned $0.41 in the third quarter, above the $0.34 expected, driven by $21.6 bilion in revenue, which also beat estimates of $20.8 billion, higher by $600 million compared to a year ago period, as a result of a strong rebound in global market earnings which jumped by 34% from $800 million to $1.1 billion as well as a 22% increase in Global Banking from $1.3 billion to $1.55 billion.

"Pounded" - How Not To Manage A Fiat Currency

The Bank of England’s inept monetary policies under Mark Carney’s governorship seem certain to expose the fragility of fiat sterling to wider public attention and skepticism. If the consequences weren’t so serious, we might thank him for unwittingly toppling the status quo. But the inevitable crisis, many times worse than that faced in 1975, cannot be embraced even by the most extreme financial masochist. This is why people in Britain and America will increasingly find solace in gold.

The (Dollar) Straw That Breaks The Camel's Back Of Political Correctness

Political risks in Europe are on the rise as the once prosperous middle class are forgotten, both financially (cannot compete with low cost Chinese workers) and culturally (if you do not like what is happening to your neighborhood you are a deplorable and irredeemable racist bigot and we do not need to listen to you). Losing life savings as deposits are bailed in left and right will be the straw that bring down any pretense of political correctness.

5 Urgent Warnings From Big Banks That The "Economy Has Gone Suicidal"

The economy has gone suicidal. It is working against the very people who need its energy to survive. It is collapsing on its own weight, and the weight of literally incalculable levels of toxic debt. And it is going to create the greatest disaster of our time, if the warnings from the world’s most powerful bankers are any indication.

Frontrunning: October 14

  • China inflation relief sends stocks, dollar higher (Reuters)
  • China producer prices rise for first time in nearly five years, may ease debt woes (Reuters)
  • Oil rises further above $52 on tighter U.S. fuel stocks (Reuters)
  • Oil From $50 Billion Kashagan Field Starts Flowing to Export (BBG)
  • New Rules Make It Harder for Companies to Manage Their Cash (WSJ)
  • The Sept. 11 Lawsuit Bill Is Weaker Than It Appears (BBG)

Bundesbank Says 'Nothing To See Here' As Deutsche Bank Stock Slumps

While Deutsche Bank credit instruments hover near their worst ever, the stock price had been jawboned and squeezed higher enabling the issuance of more junk-priced debt... until today. The first close back below €12 in over a week has some worried, confirmed by Buba's Dombret denial - "European bank sector concerns are overstated."