Bloomberg:
- Deutsche Bank(DB) Charged Over Paschi Accounts as Legal Hits Mount. Deutsche Bank AG was dealt a fresh blow on Saturday when an Italian court charged the company, an employee and five former executives for colluding with Banca Monte dei Paschi di Siena SpA to falsify the Italian lender’s accounts in 2008. Michele Faissola, who oversaw global rates at the time, and Ivor Dunbar, former co-head of global capital markets, were among those indicted in a Milan court. Both were top deputies to former Deutsche Bank co-chief executive officer Anshu Jain, and both have left the company.
- Deutsche Bank’s(DB) Woes Put $2 Trillion of Bonds Beyond ECB’s Reach. The troubles of Deutsche Bank AG are making European Central Bank President Mario Draghi’s job more complicated. The surge this week in relatively safe sovereign securities left about a third of the Bloomberg Eurozone Sovereign Bond Index ineligible for purchase under the ECB’s quantitative-easing program. The gains mean $2.2 trillion of debt in the index now yields less than the institution’s deposit rate -- currently minus 0.4 percent -- and is therefore off-limits.
- Fortunes of Dollar Will Turn on Whether Jobs Report Sways Fed. It would take a blow-out jobs report next week to get the dollar to move out of its slump. The greenback fell for a second week as foreign-exchange managers search for clues about the strength of the economy and the Federal Reserve’s next policy move. The Oct. 7 employment data may shift market-based expectations for the central bank to raise interest rates this year. On Friday, they showed a 17 percent probability of a rate hike when the central bank meets in November and 59 percent for a move by December.
- Near ‘Collapse,’ Minnesota to Raise Obamacare Rates by Half. Minnesota will let the health insurers in its Obamacare market raise rates by at least 50 percent next year, after the individual market there came to the brink of collapse, the state’s commerce commissioner said Friday. The increases range from 50 percent to 67 percent, Commissioner Mike Rothman’s office said in a statement. Rothman, who regulates the state’s insurers, is an appointee under Governor Mark Dayton, a Democrat. The rate hike follows increases for this year of 14 percent to 49 percent. “It’s in an emergency situation -- we worked hard and avoided a collapse.” Rothman said in a telephone interview. “It’s a stopgap for 2017.”
- Hurricane Matthew Soaks Colombia, Heads for Jamaica, Haiti.
Wall Street Journal:
- Germany Sees Surge in Number of Refugees Receiving Benefits. Data is announced amid unease over stream of migrants into Germany.
- Current and Former MPS, Deutsche Bank, Nomura Executives Charged in Italy. Charges follow lengthy investigation into transactions involving Monte dei Paschi.
- Obama’s Political Bank Run. The U.S. stages an election robbery and nearly triggers a panic.
Barron's:
- Had bullish commentary on (BRCM) and (AMC).
- Had bearish commentary on (DB).
Fox News:
- Iran unveils new attack drone, says it was based on captured US aircraft. (video) Iran's Revolutionary Guard unveiled a new attack drone which is similar to a U.S. unmanned aerial vehicle captured five years ago and is capable of carrying bombs, state media reported on Saturday. The drone, called the "Saegheh," or Thunderbolt, was unveiled at an expo showcasing the latest achievements by the Revolutionary Guard.
- In tape, Clinton characterized much needed young Sanders supporters, calls self 'center left, to the center right'. (video)
CNBC:
- Russia warns US of potential 'terrible' consequences if Syrian forces attacked. Russia warned the United States Saturday against carrying out any attacks on Syrian government forces, saying it would have repercussions across the Middle East as government forces captured a hill on the edge of the northern city of Aleppo under the cover of airstrikes. Russian news agencies quoted Foreign Ministry spokeswoman Maria Zakharova as saying that a U.S. intervention against the Syrian army "will lead to terrible, tectonic consequences not only on the territory of this country but also in the region on the whole."
Zero Hedge:
- Deutsche Bank(DB) Charged By Italy For Market Manipulation, Creating False Accounts.
- A Furious Rick Santelli Rages At Janet's Jawboning: "Please, Don't Help Anymore". (video)
- Automakers Must Hate This Chart. (graph)
- Judge Denies Attempt To Block Transfer Of Internet Oversight.
- In Hacked Fundraiser Recording, Hillary Mocks Bernie Supporters "Living In Their Parents’ Basement".
- Illinois Suspends "Billions Of Dollars" Of Investment Activity With Wells Fargo.
- 'Big One' Looms As Quake Swarm Strikes Southern California "In The Worrry Zone".
- Citi Trader: "I Almost Feel Stupid Being Bearish ". (graph)
- Weekend Reading: Back Where We Started.
- Rumor Rescues Deutsche From Banking Bloodbath But Gold Tops Stocks In September.
Business Insider:
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