Stocks Climb as Treasuries Fall on Deutsche Bank's Speculation
- Lender surges on media report it’s nearing $5.4b settlement
- Bank’s chief executive officer rushes to shore up confidence
A Deep Dive Into Markets With Weeden's Michael Purves
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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.
Equities extended their longest monthly advance since June 2014 and the Dow Jones Industrial Average climbed more than 160 points as a financial companies surged. The euro erased losses, while Treasuries fell with gold amid lower demand for haven assets. Oil posted its first September increase since 2010 as OPEC agreed to an output cut earlier this week.