Crisis Averted: Deutsche Bank Off the Lows; Futures Materially Improve

A few hours of shut eye and voila, like it never happened. Losses have been halved in DB, but Commerzbank is still trading near the session lows. But no one gives a shit about them.

Futures are flat. Bond yields around all of Europe have normalized, closing the deficit between German and Italian. And, lastly, crude is barely off now.

That was the shortest panic ever. Back to business as usual.