Deutsche Bank shares are losing more than 10% at the start of this week's final trading session amid general risk aversion at the end of the week, a massive wave of government bond buying and a sharply widening spread on Deutsche Bank's credit default swaps.
Deutsche shares, which have lost a fifth of their value this month, are down 5.5 per cent at €8,843 and near a five-month low. Deutsche Bank bonds are also subject to a wave of sell-offs. Dollar Additional Tier-1s fell 1 cent to 74.716 cents on the dollar, lifting the yield to 22.87%. This yield is twice as high as it was just a fortnight ago.
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A wave of uncertainty following a wave of bank failures in the US, the takeover of Credit Suisse by UBS and growing concerns about the looming spectre of a crisis is driving the credit default swap spread, which is fuelling a dynamic sell-off in Deutsche Bank (DBK.DE) shares. Source: Bloomberg
Source: xStation 5