Deutsche Bank: "Markets Are Crying Out For A Circuit Breaker", But There Is A Problem
Having been at the forefront of the recent collapse in core European bank stock prices, Deutsche Bank has - as we first reported last weekend - been 'crying uncle' but not in a way most would expect: instead of begging for more central bank easing, DB told the ECB (and BOJ) to stop easing as negative rates and more excess liquidity, are crushing it. This is why central banks are trapped, because they are damned if they don't ease any more with the global economy on the edge of recession, and damned if they ease further, pushing bank default risk even higher.