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Deutsche Bank in The News

In an analyst rating update on Thursday shares of Lloyds Banking Group PLC ORD (LON:LLOY) had their rating reiterated by analysts at Deutsche Bank.

The broker said it has now set a ‘Hold’ rating on shares of Lloyds Banking Group PLC ORD with a price target of 59. The price target according to the broker shows a possible increase of 11.26% from the current stock price of 53.03.

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Deutsche Bank has received a cautious vote of creditor confidence. The German lender is issuing expensive debt. That shows it can get access to markets, despite a feared $14 billion American regulatory fine. It is less powerful a signal than buying debt back, as Deutsche Bank did in February — but at least it shows that investors do not fear losses that could eat into senior debt.

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Deutsche Bank AG is implementing a companywide hiring freeze as Chief Executive Officer John Cryan seeks to lower costs and shore up investor confidence, according to people with knowledge with of the matter.

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Germany’s biggest bank returned to the US high-grade bond market on Tuesday to sell an additional $1.5 billion worth of debt, offering more than double the yield it paid a year ago. Deutsche raised $3 billion in a bond sale last week. This has given investors in the troubled bank confidence it can tackle the litigation with the US Department of Justice. Deutsche is facing a $14 billion fine over its American mortgage-backed securities business which allegedly led to the US housing crisis in 2008.

Comment

Would I be surprised to see some news that the bank is failing and cannot correct itself? After all the ups and downs of the past few weeks - from disappointment at not being able to negotiate with the US authorities, to questions over its entire structure and how it passed previous stress tests - I wouldn't be surprised at anything.

The worry is that it is coming at a critical time. After a sensible victory for Clinton in November, we can all breathe a sigh of relief that the world can continue on its way without a wild card in play.

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