Deutsche Bank

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Frontrunning: October 17





  • Obama open to appointing Ebola 'czar', opposes travel ban (Reuters)
  • Schools Close as Nurse’s Ebola Infection Ignites Concern (BBG)
  • How the World's Top Health Body Allowed Ebola to Spiral Out of Control (BBG)
  • European Stocks Rise Amid Growing Pressure for Stimulus (BBG)
  • Putin Threatens EU Gas Squeeze Raising Stakes for Ukraine (BBG)
  • ECB to Start Asset Purchases Within Days, Says Central Banker Coeuré (WSJ)
  • Investors search for signs of end to stock market correction (Reuters)
 
Tyler Durden's picture

But... Joe Lavorgna Said...





“We’ve got the proverbial 800-pound gorilla -- the consumer,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York. “Households are more fixated on the good news here, and a big part of that is the labor market. The U.S. is going to be pretty immune to the rest of the world.”

 
GoldCore's picture

“Secret Scheme To Manipulate The Price Of Silver” - Lawsuits Against Banks Proceed





Banks abused their position of controlling the daily silver fix to reap illegitimate profit from trading, hurting other investors in the silver market who use the benchmark in billions of dollars of transactions, according to the suit. 

 
Tyler Durden's picture

Frontrunning: October 15





  • M&A Bubble is bursting: AbbVie Says It Reconsiders Merger Pact With Shire (WSJ)
  • Winner of bad headline timing award: Spinoffs Could Set Stage for Next Merger Wave (BBG) - and now wait for the spinoffs getting pulled
  • Record mortgage settlement pushes Bank of America into third-quarter loss (Reuters)
  • Korea joins the Japan currency war: Bank of Korea Cuts Base Rate (WSJ)
  • Double Irish’s Slow Death Leaves Google Executives Calm (BBG)
  • Global Oil Glut Sends Prices Plunging (WSJ)
  • Slow Rise in Prices Shows China’s Economy Is Still Struggling (WSJ)
 
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Frontrunning: October 14





  • No Happy Ending for Investors in Central Bank Fairy Tale (BBG)
  • Ebola Response Strains Hospitals (WSJ)
  • Obama, foreign military chiefs, to thrash out Islamic State plans (Reuters)
  • Draghi’s ‘Whatever It Takes’ Plan on Trial at EU Court (BBG)
  • Too-Big-to-Fail Banks Face Up to $870 Billion Capital Gap (BBG)
  • Iran’s Message to World: You Need Us to Fight Islamists (BBG)
  • Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide (Reuters)
  • Ukraine Grannies Outprice Banks on Hryvnia Black Market (BBG)
  • HK police use sledgehammers, chainsaws to clear protest barriers, open road (Reuters)
  • Gazprom Quarterly Net Rises 13%, Misses Estimate on Ukraine Debt (BBG)
 
GoldCore's picture

U.S. and UK Test Big Bank Collapse - Risk Of Bail-ins





Regulators from the U.S. and the UK are in a “war room” today conducting financial war games to see if they can cope with fall-out when the next big bank collapses. "We are going to make sure that we can handle an institution that previously would have been regarded as too big to fail. We're confident that we now have choices that did not exist in the past," Osborne said at the International Monetary Fund's annual meeting.

 
Tyler Durden's picture

Frontrunning: October 13





  • Privately, Saudis tell oil market: get used to lower prices (Reuters)
  • OPEC Members’ Rift Deepens Amid Falling Oil Prices (WSJ)
  • Russia Spending $6 Billion Not Enough to Stop Ruble Rout on Oil (BBG)
  • Deutsche clampdown on bad behaviour prompts exodus of traders (FT)
  • Can't beat the spin: China trade data eases slowdown fears, more stimulus may still be needed (Reuters)
  • China’s Exports Buoy Growth as IPhone Inflates Imports (BBG)
  • Italy on Sale to Chinese Investors as Recession Bites (BBG)
  • Hong Kong Protesters, Antiprotest Activists Clash (WSJ)
  • Turkey Offers Military Bases to U.S.-Led Coalition (BBG) ... and the price is a small piece of post-Assad Syria
  • Passenger With Flu-Like Symptoms Causes Ebola Scare At LAX (CBS)
  • Boston patient deemed unlikely to have Ebola virus (Boston Globe)
 
Tyler Durden's picture

There Is No Mystery To Today's Selloff





Regarding the two violent selloffs this week: there is no mystery. Recall that Deutsche Bank warned late in the summer this would happen for one simple reason: there are just three more weeks of POMO left after which the Fed's balance sheet flatlines, and with it, the S&P500. The only question is whether those who "sell ahead of everyone else", manage to take the S&P far below "unchanged", as prior QE ends have done, proving once again that it is all about the flow not the stock, and as a result the Fed will once again have to resort to even more QE.

 
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European Inflation Expectations Collapse To New Record Lows





Despite all the 'promises', all the 'whatever it takes', all the jawboning... actions and words appear unable to shift the world away from its disinflationary spiral that Central Bankers are so afraid of... US forward inflation expectations have cratered in recent weeks (to levels that in the past have triggered money-printing largesse) but it is European forward inflation expectations that have collapsed to record lows leaving Draghi caught between a deflationary rock and a Bundesbank-bating, Treaty-busting sovereign QE hard place that he knows deep-down-inside (given the cleasr evidence from the US and The Fed) simply does not work how it is supposed to (in the textbooks). As Deutsche Bank warned, "QE in Europe will be ineffective, but it will happen anyway - it is the only tool the ECB has to protect its mandate."

 
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Saxobank CIO On The End Of US Dominance





"...the world goes through frequent cycles of redefinition and these periods mean increased tensions and higher volatility. China and Russia are now forming a strong anti-US and anti-dollar alliance. This alliance is expanding in magnitude and impact as China increases its presence not only in Africa but also in Club Med via infrastructure investments." The new world order means less US dominance, a gradual weakening of reserve currency advantages and trade areas away from from Europe and the US. Add to this the much-needed fight against radical Islamism and we have a potential for geopolitical risk finally becoming part of risk assessment and return.

 
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Frontrunning: October 9





  • Five U.S. airports to screen for fever (Reuters)
  • Danger, central banks trading with each other: Bipolar U.S. Stocks See Biggest Mood Swing in Three Years  (BBG)
  • Draghi Policies Blunted in Berlin as German Protests Grow (BBG)
  • White policeman kills black teen in St Louis, triggering fresh protests (Reuters)
  • Au Revoir to France’s Welfare Model as Socialists Cut Spending (BBG)
  • Here comes Roberto Cavalski (Reuters)
  • There are 49 U.S. venture-capital-backed companies with a valuation of $1 billion or more—the highest number on record (WSJ)
  • Pressure mounts on Hong Kong leader over payout amid crisis (Reuters)
 
Tyler Durden's picture

"Clueless", Reaccomodating Fed Spurs Epidemic Of Record Low Yields Around The Globe





  • IRELAND SELLS 10-YEAR BONDS AT RECORD-LOW YIELD OF 1.63%
  • GERMAN 10-YEAR BUNDS RISE; YIELD FALLS 2 BASIS POINTS TO 0.88%
  • DUTCH 10-YEAR GOVERNMENT BOND YIELD DROPS TO RECORD-LOW 1.021%
  • PORTUGUESE 10-YEAR BOND YIELD DROPS TO RECORD-LOW 2.942%
  • FRENCH 10-YEAR GOVERNMENT BOND YIELDS DROP TO RECORD-LOW 1.214%
  • U.S. 10-YEAR NOTE YIELD DROPS TO 2.296%, LOWEST SINCE JUNE 2013
  • SPANISH 10-YEAR BOND YIELD DROPS TO RECORD-LOW 2.038%
  • FINNISH 10-YEAR YIELD DROPS TO 1% FOR FIRST TIME ON RECORD
 
Tyler Durden's picture

Frontrunning: October 8





  • Turkey says Syria town about to fall as Islamic State advances (Reuters)
  • Only now? Growth worries grip stocks, oil (Reuters)
  • Hong Kong Protest Leaders ‘Furious’ at Agenda for Talks (BBG)
  • Earthquake Damages Thousands of Homes in Southern China (BBG)
  • Keystone Be Darned: Canada Finds Oil Route Around Obama (BBG)
  • Where Is North Korea's 31-Year-Old Leader? (BusinessWeek)
  • Australia to Revise Employment Data (WSJ)
  • Americans Living Longer as Fewer Die From Heart Disease, Cancer (BBG)
  • A 401(k) Conundrum: Can You Make Cash Pile Last for Life?  (BBG)
  • China Services Sector Slows in September (WSJ)
 
Tyler Durden's picture

Deutsche Bank's Shocking Admission: "QE In Europe Will Be Ineffective"





Absent fiscal policy or other "animal spirit"-boosting initiatives, there is very little left for the central bank than to push yields and the currency lower. QE in Europe will be ineffective, but it will happen anyway - it is the only tool the ECB has to protect its mandate.

 
Tyler Durden's picture

Frontrunning: October 7





  • Liberian Rubber Farm Becomes Sanctuary Against Ebola (WSJ)
  • The World’s Most Powerful Central Banker: Janet Who? (BBG)
  • Islamic State moves into south west of Syrian Kurdish town (Reuters)
  • Waldorf to Be Biggest Chinese Property Purchase in U.S. (BBG)
  • Spain Seeks People in Contact With Ebola-Infected Nurse (BBG)
  • Hong Kong protests at crossroads as traffic, frustration pile up (Reuters)
  • Immigration: Grim Caseload at the Border (WSJ)
  • China Cuts Thousands of ‘Phantom’ Workers From State Payroll (BBG)
  • U.S., U.K. Regulators Push to Settle Deutsche Bank Libor Case This Year (WSJ)
  • Wall Street Moles Go to NY’s Top Cop, Spurning SEC Cash (BBG)
  • Pimco's outflow headaches only just beginning (Reuters)
  • Japan Lawmakers Flag Need for Exit Strategy as Yen Falls (BBG)
 
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