Deutsche Bank shares slump in Frankfurt trade
Deutsche Bank shares DBK, -8.43% slumped 8% in Frankfurt trade on Friday, as worries over bank sector health focus on another global systemically important bank.
Deutsche Bank’s 5-year credit-default swaps widened on Thursday, in what Reuters reported was the largest one-day rise in its history. Its AT1 bonds have tumbled in value after Switzerland wiped out Credit Suisse’s securities after the state-backed takeover by UBS.
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Deutsche Bank shares whipsaw after CDS blow-outDeutsche Bank shares dropped as much as 3.4% in Friday's premarket trade, after a sharp jump in the cost of insuring against the risk of default late the day before fuelled concerns about the overall stability of Europe's banks.
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Deutsche Bank shares slide 8% after sudden spike in the cost of insuring against its defaultDeutsche Bank shares fell 8% in early trade on Friday after a spike in credit default swaps on Thursday night, as concerns about the stability of Europe's banks persisted.
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Sunshine Thursday, Friday; Severe Potential Friday Night - Alabama NewsTemperatures surge into the low and mid 80s Thursday afternoon and the sky remains mainly sunny. Thursday night remains mild with lows near 60°, while low clouds and fog likely develop again.
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Swiss National Bank raises rates, says bank crisis stoppedThe Swiss National Bank raised its benchmark interest rate by 50 basis points on Thursday and declared that measures to support Credit Suisse had 'put a halt to the crisis'.
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Senators call on former Silicon Valley Bank, Signature Bank CEOs to testifySens. Sherrod Brown and Tim Scott said the former CEOs of the fallen banks should 'answer for' their banks' 'downfall' in Senate testimony.
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