Deutsche Bank

Futures Drop As ECB Confusion Persists, Dollar Rises To Seven Month High; Yuan Plunges

Asian stocks and S&P futures fall modestly and European shares are little changed as traders digested the surprising reticence from yesterday's ECB meeting. The dollar jumped to 7 month highs, pressuring EM currencies and pushing the euro to its weakest level since March and below the Brexit lows, after Mario Draghi shut down talk of tapering, while the Yuan dropped to the lowest since 2010.

David Rosenberg Calls For A Multi-Trillion, "Helicopter Money" Stimulus Package

David Rosenberg has a modest proposal in mind for the US economy: he says only a massive, multi-trillion stimulus package which includes helicopter money attached to a $2 trillion perpetual bond, massive infrastructure spending and measures to tackle the $1 trillion student debt load, has any hope of kickstarting the US economy.

ECB Preview: What Wall Street Thinks Mario Draghi Will Say Tomorrow

While expectations are low from Thursday's ECB meeting,  it may ultimately boil down to Draghi’s communication about asset purchases. Any hint of QE tapering would spur a large-scale sell-off in the rates market, according to most Wall Street strategists. Here is what else the sellside thinks will happen.

World Gone Mad: Japanese Investors Edition

Will we ever learn? Bonds which never pay back principal, yield only 1%, and are converted to equity if the issuer gets into trouble (that is, at exactly the time when you don’t want to own their stock), are being enthusiastically snapped up by Japanese investors.

Global Stocks Rebound As Fed Fears Ease, Dollar Falls From 7 Month High

If yesterday's session was marked by concerns about Fed tightening and rising long-end rates, today concerns about a hawkish Fed have subsided, with European, Asian stocks and S&P futures all rising amid speculation Federal Reserve policy will remain accommodative after yesterday's dovish comments by Fed vice-Chair Stan Fischer, as well as weak economic data helped push the US Dollar off its 7 month highs.

"Change Is As Necessary As It Is Impossible": Deutsche Bank Explains Why The World Is At A Dead End

"Anti-global sentiment has been the loudest message of the current presidential campaign in the US. The most likely origin has been a buildup a buildup of discontent due to failure to develop a convincing response to economic slowdown in the last years. This has recently emerged as the main theme of public discourse. Current presidential campaign has highlighted to what extent the Change is as necessary as it is politically impossible."

Deutsche Bank Pays $38 Million To Settle Silver Manipulation Lawsuit

The scandal-plagued Deutsche Bank agreed on Friday afternoon to pay $38 million to settle US litigation over allegations it illegally conspired with other banks to manipulated and fix silver prices at the expense of investors. A lawyer for the investors said the deal provides "substantial monetary compensation plus cooperation in the continued prosecution of this case against the non-settling defendants."

 

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.