Banks should be allowed to repackage assets such as loans and sell them on to investors to maintain the flow of credit to the economy, said Deutsche Bank AG co- Chief Executive Officer Juergen Fitschen.
It was 95 degrees Fahrenheit outside the Los Cabos conference center as President Barack Obama and fellow Group of 20 leaders pressed Chancellor Angela Merkel to take the heat out of the crisis-wracked euro area.
Germany’s bonds dropped for a second day as investors weighed what Federal Reserve Chairman Ben S. Bernanke will say about the central bank’s asset-purchase program when he holds a press conference tomorrow.
The euro has overtaken Sweden’s krona as this year’s best performing major currency, revealing how far European Central Bank President Mario Draghi is falling behind his contemporaries in the foreign-exchange wars.
The euro declined versus the dollar after European Central Bank President Mario Draghi said the central bank is considering further non-standard monetary policy tools and will deploy them if circumstances warrant.