Tuesday, October 25, 2016

Overnight Risk: The Sum Of All Morons

First, Deutsche Lehman just lost its short-covering bid...



"A report has raised concerns that Deutsche Bank could hang in limbo longer than many people had hoped. More than a month after news first surfaced that the Department of Justice has asked the struggling German lender for a $14-billion settlement around its former sales practices regarding mortgage-backed securities, a Sky News report, citing a banking industry source, said the final decision on any fine would not likely come until after the November U.S. election."





Meanwhile, China's currency is coming unglued...



And after hours, despite Samsung's exploding phone and an extra week in the quarter (8% additional sales), Apple still missed...





Also after hours:





Triple leveraged oil: