This week, Deutsche Bank was under pressure after a Bloomberg report said a small number of hedge funds were trimming their exposure at the German bank.
The stock initially dropped after reports surfaced, which suggested that 10 hedge fund clients are reducing their dealings with Germany’s biggest bank. But in a turn of events, shares of Deutsche Bank jumped 14% Friday after reports that the bank may be near a $5.4-billion settlement with the U.S. Department of Justice. If the reports are true, the settlement would be well below the reported $14 billion opening bid by the DOJ in its talks with Deutsche.
Source: Achtung Baby! | Kitco News