- "To us, the year started slow," says Deutsche Bank (DB -0.9%) CFO Stefan Krause. "Obviously through political uncertainty we started to have market uncertainty again and a slowdown in business."
- Krause's warnings of a continued slowdown in investment banking business echo those of Citigroup and JPMorgan over the last couple of weeks.
- Fixed income revenue has been slowing since May, with some banks (notably Goldman) insisting the fall is temporary, but others say boosted capital requirements has squeezed margins and left overcapacity, meaning more job cuts as banks shrink and restructure.
- ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, IAI, SEF, IYG, FXO, PFI, KBWB, FNCL, FINU, RWW, RYF, PSCF, FINZ