Business

After raising capital at a 35% discount over the weekend, Deutsche Bank shares are tumbling once again - back into the red for 2017 - after CEO John Cryan warned that revenue would be "broadly flat" in 2017. As Bloomberg reports,

Germany’s biggest bank has seen revenue falling or little changed from last year across most of its businesses. For the full year, the lender expects revenue to be “broadly flat,” it said in its annual report published Monday.

 

In light of all the fake news and blatant media propaganda being published these days, I think it's important to remember how little diversity of opinions there are amongst our 'independent press'. A survey done in 2013 found that most shills hide under the cloak of 'independent', with about 30% calling themselves democrat. You can see how this trend has disjointed over the decades, with republicans being systematically removed from the sacred 5th estate.

The word for this week is "caution."

We’ve now had two inside days (days in which the high and low for the day were within the boundaries of the previous day’s high and low). This indicates traders are unwilling to commit to either long or short… and the market is preparing for a violent move.

Meanwhile, a “flight to safety” is underway "behind the scenes" with investors pouring into bonds while moving out of stocks. The long bond ETF (TLT) rallied last week, while stocks ended the week rolling over.

Russian daily Kommersant reports that the Bank of Russia detected malware that hides inside ATM’s operating memory which "forces" them to dispense cash to anyone who enters certain code on its keyboard. The paper cites the deputy head of information security Artem Sychev, and adds that cash machines made by NCR were among the ATMs mostly attacked.

Below looks at the Dow Jones Transportation Index over the past 20-years. Before we discuss the chart below, let me be clear about this, the trend at this time remains up.