Saving Cryan DB
European markets are buzzing this morning with talk of a shakeup over at Deutsche Bank.
John Cryan has been trying hard to save Germany’s injured mega-bank but it seems that the board has grown impatient. Replacing Cryan will be Christian Sewing (pronounced: Saving) who’s been with DB since he was a teen.
This morning, Sewing has sent a heavy-handed Email to all 98,000 employees that included the following paragraph…
In loose terms, it looks like Sewing is about to hand out some pension packets.
Investors seem to be enjoying the prospect of new management and DB stock is doing great in the pre-market. After all, why not? These shares were trading at $88 in 2007 and are now near all time lows at $11.
Crypto Green Bounce
We’re also seeing some sustained gains in crypto-land after a bearish period. Sentiment is still neutral but even though the greens are nowhere near November’s “orders of magnitude” price shifts, we can see that over the last month most of the top cryptos are in green.
The excitement is drawing in some big names lately. We know that a Goldman Sachs company bought out a huge crypto exchange a few weeks ago, now it looks like George Soros and even the Rockefellers are getting in on the action.
Though direction is still a question, it’s clear now that liquidity will soon not be a problem in this industry.