While the entire nation was transfixed on last night's latest, and most scandalous yet "debate", in which there was little actual debating and a lot of talking points and character assassination attempts, index futures were little changed throughout Sunday's 90 minutes event, suggesting that no clear winner had emerged on either side.
"The 46 trillion euros figure sounds gigantic, but it is completely misleading. The real risk is far lower" Deutsche Bank's Chief Risk Officer Stewart Lewis told Welt am Sonntag. There is just one problem with this statement: Lewis made an almost identical promise that "Deutsche Bank is fine" two months ago. As it turned out, it wasn't.
"We are not in a recovery and were not really in a traditional recession. People think of a business cycle as a boom, followed by a recession and then there are automatic stabilizers that revive the economy, but this time, we can't revive. And the reason is that every recovery since 1945 has begun with a higher, and higher, and higher level of debt. And the debt is so high now that since 2008 we've been in what I call, debt deflation."
The end of growth exposes the stupidity and ignorance of all but (and even that’s a maybe) a precious few (of our) ‘leaders’. We are transcending into an entirely different stage of our lives, our economies, our societies. Growth is gone, it went out the window long ago only to be replaced with debt. And that’s going to take a lot of getting used to. But there’s nothing that says we couldn’t see it coming.
While speculation that Qatar investors may come to Deutsche Bank's rescue came and went on Friday, the German lender quietly took advantage of the relentless global appetite for yield and on Friday evening Deutsche Bank issued its first US dollar-denominated bond in five months when its raised $3 billion in five year paper
"If Everybody's Watching, You Know, All Of The Back Room Discussions And The Deals, You Know, Then People Get A Little Nervous, To Say The Least. So, You Need Both A Public And A Private Position" - Hillary Clinton
U.S. equity index futures fell, with European, Asian stocks also declining before the September payrolls data, following the stunning 2-minute "flash crash" meltdown in sterling which plunged as much as 6.1%, the most since Brexit and is set for its biggest weekly loss since 2009.