The CEO of Landesbank Baden-Wurttemberg says his group does not have enough capital at the moment. Looks like another bailout is on the way.
Also crossing the wires is news that Moody’s has changed its outlook on BNP Paribas, the giant French bank to negative. One more reminder that the heavily leveraged European banking system has severe trouble of its own,
EUR/USD has dipped back below 1.3300 after running into sellers are the 1.3340/50 area.
