Deutsche gains big in Lira woe
Deutsche Bank's fixedincome traders generated a $35-million profit in two weeks as economic turmoil in Turkey triggered a slump in assets across emerging markets. The traders, who work on a desk focused on Central and Eastern Europe, the Middle East and Africa, made more than $10 million on August 10, when the Turkish lira plunged the most in almost two decades. The team was positioned to profit from any slump in assets prices. The credit team had made $45 million this year, with a quarter of those gains coming just in the past week.