Received moments ago and this could be causing ang
Post# of 5282
Posted On: 09/29/2016 5:56:23 PM
Received moments ago and this could be causing angst:
"Emergency Update: Deutsche Bank Plunges as Funds Reportedly Start Yanking $$; Get Out of Financials
By Mike Larson
Mike Larson
Dear Alan,
Mike Larson here with an emergency update. Shares of Deutsche Bank (DB) plunged more than 6.7% after reports circulated that some funds are starting to yank money out of the German bank.
Specifically, Bloomberg reported that several hedge funds that clear derivatives with DB are pulling excess money from the bank and moving it elsewhere. They include names like Millennium Partners, Capula Investment Management, and Rokos Capital Management.
While only about 10 firms out of more than 200 supposedly took the step, the news rattled markets for a very good reason: This is exactly what led to runs at brokers and banks like Bear Stearns and Lehman Brothers! They started when a few customers pulled their money, then rapidly escalated into a crisis of confidence and a bout of contagion selling throughout the financial sector. That, in turn, necessitated massive central bank and government bailouts.
To read the rest of Mike Larson’s Afternoon Edition, click here ..
Go TEVE!!!
"Emergency Update: Deutsche Bank Plunges as Funds Reportedly Start Yanking $$; Get Out of Financials
By Mike Larson
Mike Larson
Dear Alan,
Mike Larson here with an emergency update. Shares of Deutsche Bank (DB) plunged more than 6.7% after reports circulated that some funds are starting to yank money out of the German bank.
Specifically, Bloomberg reported that several hedge funds that clear derivatives with DB are pulling excess money from the bank and moving it elsewhere. They include names like Millennium Partners, Capula Investment Management, and Rokos Capital Management.
While only about 10 firms out of more than 200 supposedly took the step, the news rattled markets for a very good reason: This is exactly what led to runs at brokers and banks like Bear Stearns and Lehman Brothers! They started when a few customers pulled their money, then rapidly escalated into a crisis of confidence and a bout of contagion selling throughout the financial sector. That, in turn, necessitated massive central bank and government bailouts.
To read the rest of Mike Larson’s Afternoon Edition, click here ..
Go TEVE!!!
(0)
(0)Telvue Corp (TEVE) Stock Research Links
Scroll down for more posts ▼