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…
End of quote.
We know where the Lehman scenario led us; the 2008 GFC.
Richard
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