Most Read on Bloomberg: Deutsche Bank Turmoil, Clinton and Trump
(Bloomberg) -- The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through Oct. 1.
See READSUMS for previous lists.
1. Cryan Defends Deutsche Bank as Some Clients Pare Back Exposure
(Bloomberg) -- Deutsche Bank AG Chief Executive Officer John Cryan rushed to shore up confidence in his beleaguered lender after concern some clients are reducing exposure to the company pushed shares to record lows.
2. Bonds Rally, Stocks Drop Before Debate as Deutsche Bank Tumbles
(Bloomberg) -- Traders bracing for a heated U.S. presidential debate tonight had another element to contend with -- a selloff in global banks.
3. In Greenwich, That $250,000 Mercedes Isn’t the Hit It Was
(Bloomberg) -- The lonely $250,000 S-Class coupe at Mercedes-Benz of Greenwich says it all. For six months, it’s been sitting in the showroom, shimmering in vain while models priced at only $70,000 fly out the door.
4. Clinton, Trump Draw Stark Contrasts With Sharp Debate Attacks
(Bloomberg) -- Hillary Clinton and Donald Trump leveled sharp and personal charges and counter-charges over trade, the U.S. economy, race and foreign policy in their first face-to-face debate, an event that put on display their starkly different personalities and visions of the nation’s future.
5. Trump Allies Move to Stem Damage From Strong Clinton Debate
(Bloomberg) -- Republican presidential nominee Donald Trump’s team scrambled Tuesday to stem political damage from his first debate with Democrat Hillary Clinton as he claimed unfair treatment and renewed his criticism of a Latina pageant contestant that had drawn attacks from Clinton.
6. Deutsche Bank Strives to Quell Capital Concern, Sells U.K. Unit
(Bloomberg) -- Deutsche Bank AG, eager to turn a tide of pessimism that drove its stock to record lows, dismissed speculation it will have to raise capital and announced the long-awaited sale of a U.K. insurance business for 935 million pounds ($1.2 billion).
7. Stocks Fall as Deutsche Bank Woes Roil Lenders; Treasuries Climb
(Bloomberg) -- Stocks fell, while Treasuries climbed as mounting concern over Deutsche Bank AG’s finances roiled global lenders. Oil extended its surge.
8. Oil Soars on OPEC Plan to Cut Output, Fueling Stocks; Bonds Fall
(Bloomberg) -- Oil surged the most since April as OPEC agreed to a preliminary deal that will trim output for the first time in eight years. Stocks climbed, while Treasuries fell.
9. Stocks Climb as Treasuries Fall on Deutsche Bank’s Speculation
(Bloomberg) -- Risk appetite returned to global markets on speculation Deutsche Bank AG will pay less than half of a penalty sought by the U.S., sparking a rally in stocks and sending Treasuries tumbling.
10. U.S. Bond Market’s Biggest Buyers Are Selling Like Never Before
(Bloomberg) -- They’ve long been one of the most reliable sources of demand for U.S. government debt.
1. What Deutsche Bank Tells European Investors: Mohamed A. El-Erian
(Bloomberg View) -- Shares of Deutsche Bank, Germany’s largest bank, have lost more than half their value in the last year, and have been subject to exceptional volatility. Its bonds have also had a rough ride.
2. Trump Takes Clinton’s Bait and Hooks Himself: Jonathan Bernstein
(Bloomberg View) -- The entire 90-minute debate on Monday night was a demonstration that Donald Trump doesn’t have the temperament to be president.
3. Goldman’s Libya Salesman Was a Little Too Good: Matt Levine
(Bloomberg View) -- I used to sell equity derivatives at Goldman Sachs, which puts me in fascinating company. For instance there is Youssef Kabbaj, a London-based equity derivatives salesman who, in 2008, was described internally as “perhaps Goldman’s top salesman globally.”
4. Merrill Lynch Sold Some Stocks a Bit Too Fast: Matt Levine
(Bloomberg View) -- There are a lot of dumb obvious ways to "fat finger" your way into losing a lot of money in the stock market. You can try to buy 2,000 shares and accidentally buy 2,000,000 instead. You can try to buy 2 million dollars of Alphabet stock and accidentally buy 2 million shares -- more than $1.5 billion worth -- instead. You can try to buy 2,000 shares, not realize that your order has been sent, and then send the order again. (And again and again.) Trading is complicated and computers are fussy and you were out late last night and all those zeros tend to blur together.
5. Trump Rides on Waves of Other People’s Money: Timothy L. O’Brien
(Bloomberg View) -- During a campaign stop in North Carolina last week, Donald Trump described the logic behind his plans for billing other countries for U.S. military support should he become president.
1. Trump and Clinton Presidential Debate
(Bloomberg) -- Democratic nominee Hillary Clinton and her Republican counterpart Donald Trump face off in the first presidential debate of 2016 at Hofstra University in Hempstead, New York. NBC News’ Lester Holt moderates.
2. The First 2016 Presidential Debate in 3 Minutes
(Bloomberg) -- Democratic nominee Hillary Clinton and Republican counterpart Donald Trump went directly into attacks in their first debate. They engaged in testy exchanges over trade, the U.S. economy, race and foreign policy.
3. Wells Fargo’s Stumpf Testifies on Account Abuses
(Bloomberg) -- John Stumpf, chief executive officer at Wells Fargo & Co., testifies before the House Financial Services Committee in Washington about the bank’s opening of unauthorized accounts.
4. Fed’s Yellen Testifies: Banking Supervision
(Bloomberg) -- Federal Reserve Chair Janet Yellen testifies before the House Financial Services Committee in Washington about bank supervision and regulation, the economy and monetary policy.
5. ECB’s Draghi Testifies on Monetary Policy in Parliament
(Bloomberg) -- European Central Bank President Mario Draghi speaks before lawmakers in the European Parliament in Brussels about monetary policy and the need for euro-area governments to act to stem rising public discontent.