Deutsche Bank AG (DB)

[fromtheuk]

Nearly 10% lost on DB share price over its exposure to Turkey. As the Turkish Lira collapses, expect further pressure on DB. However, this was not one I expected to hit DB ths badly for 2 reasons.

1) i didnt think DB were that exposed to Turkey.
2) although the Turkish Lisa crash could be seen a mile off, I felt it would be a little more drawn out. The volatility to some point down to Trump raising tarrifs and falling out at a political level. Trump however did NOT cause ths, but he was partly responsible for the timing.

On a scale of 1-10 where Italy is a 10, Turkey is a 1-2 at most. See the impact Turkey has, and know that Italy will be much much worse.

Also the speed of it, 40% devaluation of the currency over the weekend. I wonder if the Euro could see similar pressure as Italy crashes out and defaults.