Deutsche Bank shares fell this morning as a quick deal with U.S. authorities over a multi-billion dollar penalty seems unlikely. An adjusted figure of roughly $5 billion was in the news last week after the initial demand of $14 billion was raised but US regulators.
“Clearly, so long as a fine of this order of magnitude ($14 billion) is an even remote possibility, markets worry,” UniCredit Chief Economist Erik F. Nielsen wrote in a note on Sunday.
The concern over Deutsche Bank gather amongst the cloud of uncertainty over global markets. Reuters reports that fellow large European banks also under investigation for mis-selling mortgage-backed securities – Credit Suisse (CSGN.S) and Barclays (BARC.L) – will want to get a deal done with the current administration still in power.
In the near future we will explore the worries about the European Union, Brexit, coupled with the US printing of money and those impacts on safe haven vehicles, such as gold. We will also look at once considered safe havens like real estate and the how country specific real estate bubbles in Canada, England, France, Australia, Japan as Switzerland UBS reports which have been raising the interest of the retail investor towards the gold market.