Deutsche Bank Bloodbath Reignites Global Bank Crisis Fears

"Last night, amid the Fed's H.4.1 report, we noted an unprecedented surge in foreign official Repo ($60 billion) under the Fed's new FIMA repo facility, which means that the offshore scramble for dollars was alive and well, and someone  really needed access to USD. The assumption was that it was Credit Suisse (or UBS) shoring up some shortfalls, but with the action of the last couple of days, others are worrying that there is more afoot in the EU banking system.....Deutsche Bank stock has crashed to 5-month lows.....Deutsche Bank CDS is soaring (Commerzbank is also rising rapidly) - now higher than at peak of the COVID lockdowns....other Deutsche Bank AT1 bonds have plunged in price...." ZH