Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday

Ok, so as detailed earlier this morning, the first thing you should note about the overnight session was the action in the loonie and peso following Donald Trump’s decision to avoid ripping apart NAFTA (for the time being). You can read the full story on that with some additional color from FX trader Mark Cudmore…

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Chaos

Well I think it’s safe to say that geopolitical risk – which the naive among you thought had dissipated materially last Tuesday evening when the nice orange man in the blond wig successfully read a teleprompter – has firmly reestablished itself as the market boogeyman. On Monday morning, Americans (including Trump’s own staffers) are still trying…

This Is What An Ongoing Trainwreck Looks Like

When it comes to floundering under the weight of legacy litigation costs (both real and psychological), nobody does it like Deutsche Bank.

Daily Kickstart (Dollar Dumps After Fed Farce, Deutsche Bank Plunges)

Perhaps fearing some kind of Erdogan-esque reprisal from the White House, the Fed pussyfooted its way through the January/February statement, seemingly content to let Peter Navarro coordinate America’s FX policy for the time being. Of course there are other reasons why the Fed might have chosen to effectively play the background. That is, it’s not…

A “Deluge” Of “Craptacular Sh*t”: Barclays Complaint Reveals How They Really Felt

Early on Friday, I outlined the deals Deutsche Bank and Credit Suisse were able to strike with the US government to settle fraud allegations related to the sale of securities tied to shoddy mortgages. The damage: $7.2 billion for Deutsche and $5.3 billion for Credit Suisse. Investors greeted the Deutsche deal with some measure of enthusiasm, bidding…

Daily Kickstart (“Sh*t Loans” Edition)

Deutsche Bank and Credit Suisse are on the move overnight after the banks both settled mortgage securities fraud suits with the US for $7.2 billion and $5.3 billion, respectively. Deutsche rose as much as 4% in Frankfurt trading: The settlement comes as something of a relief for weary Deutsche Bank shareholders who previously feared the…