Agents from the United States’ Federal Bureau of Investigation interviewed Deutsche Bank (AG) trader Robert Wallden yesterday as part of the agency’s probe into currency market manipulation. During the interview, Wallden was shown snippets of electronic communications where he indicated that he thought he could move currency market prices. However, because there is no actual evidence that Wallden did manipulate prices, he still remains employed by Deutsche Bank, in its New York City office. Should additional evidence pop up to incriminate Wallden and others of price fixing in the $5.3 trillion dollar a day currency market, it could lead to even larger fines than those recently handed out to the likes of Bank of America and JPMorgan Chase. After that, the banks’ investors would have to decide share price fate.
According to a recent Bloomberg Global Poll, investors today fear the rise of asset bubbles in everything from the Internet to social media to the housing markets in London and China. In fact, 82 percent of responding investors, analysts or traders indicated that they felt Internet and social media shares specifically are at nearly unsustainable rates, while 73 percent felt that way about Chinese housing prices.
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Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: