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If this market turmoil forces a US rate cut, the outlook will truly be grim

Janet Yellen

This time last month stock markets were starting an end-of-year rally, cheerfully regarding the US Federal Reserve’s small increase in interest rates as evidence of the underlying strength of the global economy. Now, says William White, former chief economist of the Bank for International Settlements, the situation is as bad as in 2007, the onset of the banking crash.



Deutsche Bank - Foyer Undersphere

Bloomberg - Deutsche Bank sees two key departures

Deutsche Bank’s Dario Schiraldi and James Dilworth are leaving the lender after co-Chief Executive Officer John Cryan broke up the firm’s asset and wealth management businesses, according to a person with knowledge of the matter.

Hedge Fund

Ex-Goldman trader reopens hedge fund

Guard Capital Management, the firm led by former Goldman Sachs trader Leland Lim, reopened its macro hedge fund to new investors this month after outperforming peers in 2015, said a person with knowledge of the matter.