Yeah, I am asking myself which of the London desks is playing it the hard way. But be sure, I will charge interest for this "episode" ! :eek:
I think I found my defendant => Deutsche Bank Earnings May Be Worst Hit by Rout, JPMorgan Says By Elena Logutenkova Sept. 6 (Bloomberg) -- Deutsche Bank AG, Germany's biggest lender, will probably be the European investment bank most affected by the fixed-income markets rout, according to JPMorgan Chase & Co. analysts. Deutsche Bank earnings estimates for this year were cut 5 percent and lowered 10 percent for the following two years, Kian Abouhossein and Jacob Kruse, analysts at JPMorgan in London, wrote in a note to clients today. Credit Suisse Group's estimates were cut by 5 percent for 2007 and 3 percent for the next two years, while UBS AG's were lowered by 2 percent, 4 percent and 3 percent for 2007, 2008 and 2009, respectively. Deutsche Bank, which operates the biggest investment bank by revenue in Europe, gets about half of group profits from fixed-income sales and trading, JPMorgan analysts estimate. The banks will probably also take a hit from mark-to-market writedowns on leveraged loans in the third quarter, they said. ``Lower sustainable revenues in securitizations, leverage finance, hedge funds and proprietary trading are impacting our 2008 and 2009 estimates,'' the analysts said. They have an ``overweight'' rating on Credit Suisse and ``underweight'' ratings on UBS and Deutsche Bank. Beware JPM, you will pay for this BS ! I think DB, is already working on a downgrade for your stock, GUYZ !
C'mon ASusilovic, there's nothing to do with JPM but factory orders in Germany were really low last month!
you're right but DB is working on a massive downgrade on JPM stock either way. this dax thread is really hilarious. good job guys entertaining everybody.
i hope you dont feel offended, i was just trying to say it entertains me because i trade the dax with a black box which is totally neutral to TA or news bias and thus, it is quite interesting seeing what the other side of the trade thinks of the dax, as prices evolve. cheers