The 'dragnet on global banks' comes for Deutsche Bank

that the Department of Justice is scrutinizing banks that may have helped Russian oligarchs evade sanctions."Given the tendency of the bank to always find itself right in the middle of any issue related to banking troubles, it’s almost surprising that it didn’t happen sooner," Bespoke writes.Investors may be especially worried about the language in contingent convertible bond documents, giving "regulators discretion to write down the value of those bonds," Bespoke wrote.

“We view this as an irrational market,” Citi analysts including Andrew Coombs said in a note cited by Bloomberg. But the risk remains of "a knock-on impact from various media headlines." German Chancellor Olaf Scholz weighed in Friday, calling it "fundamentally modernized," "very profitable” and nothing "to be concerned about,"

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