Despite major jawboning and bond-buying by The ECB, Deutsche Bank's "see it's not Lehman after all" dead-cat-bounce has officially died as the giant German bank's stock collapses back near record lows.
With Europe's bond curve crushed (and 10Y Bunds trading 1.1bps today), it's beginning to look a lot like Lehman again...
Furthermore The ECB is out in full jawboning mode...
- *ECB'S COSTA SAYS PROBLEM OF EUROPEAN BANKS IS PROFITABILITY
- *ECB'S COSTA SAYS EUROPE FACES RISK OF `ZOMBIE BANKS'
- *ECB'S COSTA SAYS EUROPE NEEDS TO CREATE MARKET FOR BANK NPLS
Yeah so cutting rates even more negative wil probably help right?