When it comes to Deutsche Bank and their never-ending quest to "turn it around", any good news is welcome even if there are a lot of caveats and fine print.
To be clear, I'm not keen on beating this dead horse, primarily because it's the same story quarter after quarter after quarter. I remember when it was possible to decompose the phrase "turn it around" into specific areas that investors expected Deutsche to focus on in a given quarter, but eventually, the "it" in "turn it around" came to mean "everything", as the bad news continued to pile up.
Christian Sewing thinks maybe he can do what no one else in recent memory has been able to accomplish and so far, he's done his best Oppenheimer impression: “Now I am become pink slip, the destroyer of jobs”.
In any event, Deutsche issued preliminary results on Monday, more than a week ahead of the official date and the news was positive - or what counts as "positive" in this context.
When you read the press release, you almost feel bad for them because they're clearly excited about this. But a quick skim of the available information is all you need to know why there's not actually much here.
Short story short (that's "short" tw
Please support this website by adding us to your whitelist in your ad blocker. Ads are what helps us bring you premium content! Thank you!