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Published on Oct 27, 2016
Don't
get too excited about Deutsche Bank's unexpected quarterly profit, as
the bank still faces a massive $14 billion settlement from the U.S.
Justice Department. "The elephant in the room continues to be the
settlement with the Department of Justice," said Craig Erlam, a senior
market analyst at Oanda, based in London, adding that the settlement
makes it difficult for the stock to push on. Deutsche Bank also raised
its litigation reserves to 5.9 billion euros, compared to 5.5 billion
euros in its previous quarter, far from the $14 billion the Department
of Justice seeks. TheStreet's Scott Gamm reports from Wall Street.
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