Deutsche Bank: A bad bounce

Deutsche Bank had a bad-news bounce on Tuesday. The German bank’s shares rose 4.7% after it announced that it would absorb E2.5bn of credit losses. It looks like the return of the days of downbeat news from banks sparking upbeat movement in their stocks. The optimism proved ill-conceived last year. The second-half write-downs, losses and capital raising didn’t turn out to mark a quick and bright line underneath credit woes as investors had hoped. Instead, problems mounted and financial sector s...