Reuters: Deutsche Bank mortgage settlement near; Citi downgrades

• A deal between the German lender and the DOJ could be wrapped by Christmas, according to the report, and looks like it will be for far less than the bank-wrecking $14B originally floated.
• As for the stock, Deutsche (DB -2.2%) is lower in early action in what looks to be a response to a downgrade to Sell from Citi. Deutsche's 41% post-election surge is too far too fast, says Citi, noting far more subdued moves from European peers.
• Citi prefers the Swiss lenders, with Credit Suisse (CS -0.2%) a top pick given all the room for management to make improvements. UBS (UBS +0.2%) is also rated a Buy, but doesn't have as many short-term catalysts.