8/15/2019, 12:45 PM (Source: TeleTrader)
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Commerzbank hits all-time low, Deutsche near bottom

Falling interest rates and bond yields, with negative returns on a record $16 trillion of debt worldwide, continued on Thursday to pressure lenders, with a particular impact in the Eurozone and Germany. Commerzbank set new record lows for the fourth consecutive day in Frankfurt, Deutsche Bank was testing its own lifetime bottom of €5.801 per share and the DAX stock index tumbled to 11,266.48 points, a level last seen on February 19.

Major central banks have turned to policy easing bias and some have already cut borrowing costs with the aim to underpin the economy amid a global slowdown, trade war between the United States and China and the Brexit unknowns.

Commerzbank plunged 2.89% at 12:42 pm CET to €4.672 per share following the first dip to €4.658. It lost 19.2% so far this year. The struggling lender is looking to finish its twelfth session out of the last fifteen. Deutsche Bank was down 3.34% at €5.843 per share after touching €5.157, with the negative record from June 3 within sight. The DAX fell 1.86% to 11,279.19 points.

Breaking the News / IT