U.S.authorities accused Deutsche Bank of contributing directly to the financial crisis and hit it with the largest ever penalty of its kind over the sale of mortgage-backed securities. The penalty is the largest of its kind paid by a single entity: more than the $7 billion Citigroup paid in 2014. Source: Handelsblatt
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Storing crude oil for sale at a later date is no longer profitable, as the futures curve has flattened out in recent weeks, depriving traders of a strategy that has served them well over the past few years. The market “contango” has all but vanished. Source: OilPrice
Greece reported having some 149.1 tonnes of gold reserves at the end of 2016 amounting in the value of 5.26 billion euros. Almost half of that gold is kept in vaults abroad, and after a Greek newspaper reported that half of its gold reserves had been handed over to the ECB. Source: Greek Reporter
Top advisers to French presidential candidate Marine Le Pen have met with strategists and analysts from BlackRock Inc, Barclays Plc and UBS Group AG, among other firms to explain their economic program and plans to withdraw France from the euro. They have met with analysts from British and American financial institutions. Source: Bloomberg