In any normal world this is a really awful moment for existing DB longs. We don’t inhabit that world anymore….

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by Chris

http://www.zerohedge.com/news/2017-03-19/deutsche-bank-prices-%E2%82%AC8…

Deutsche Bank Prices €8 Billion Stock Offering At 35% Discount

 

This is amazing.  If you were a DB long, the correct move would have been to sell on Friday and then buy some of these new shares at a whopping -35% discount today.

What “should” happen in a  normal market is that the shares would be pummeled by this news, perhaps by the entire 35%.

But that’s not how these “”markets”” work anymore.  They are so tightly controlled now that nothing appropriate ever happens anymore.

Case in point, here’s DB in the pre-market (er…pre-“”market””) just seconds ago:

Not even down -2.5%(!!)

And try to act surprised when it somehow doesn’t budge all day, wobbles slightly, and then vaults into the final minutes of the close to ‘they’ can come out with a set of headlines about how “investors” were cheered by the move, etc.

But make no mistake, in any normal world this is a really awful moment for existing DB longs.  We don’t inhabit that world anymore….

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