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Germany deposits at all time high

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And with negative rates and fees to depositors… US headed there too?Good Morning from #Germany where retail deposits have hit an ATH at €2.63tn in Jun although more & more banks charging penalty interest on deposits & although inflation reduces value of money. In July, inflation rose to 3.8%. Means loss of purchasing power of deposits of €100bn pic.twitter.com/NXP1dca8Rm— Holger Zschaepitz (@Schuldensuehner) August 1, 2021

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And with negative rates and fees to depositors… US headed there too?




Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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