Making matters hostile, in a statement on Friday morning, the German bank's CEO rejected the opening settlement claim and said that he “has no intent to settle these potential civil claims anywhere near the number cited", adding that “the negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts."Each time DB breaks to new lows, global financial markets slide. Whether this current slide in DB move causes another drop remains to be seen, but this is undoubtedly the single worst company for the DoJ to target. A slide in financial markets right now will shift voters in the direction of Trump.
Maybe, but the market is not so sure, and after opening for trading minutes ago, Deutsche Bank stock tanked a whopping 8% on news of the DOJ's $14 billion proposed settlement, once again approaching its all time lows.
Update: here's DB bonds plummeting.