Bloomberg At the start of a week stuffed with central-bank activity, US equities fell and European stocks drifted following steep share declines in Asia. Treasuries advanced as investors greeted on Monday in a cautious mood. The S&P 500 fell for a second day after the blow-out jobs report altered market calculus for Federal Reserve rate cuts, though equities came off …

Bloomberg The status of the world’s least favourite asset has its benefits. Morgan Stanley, which just slashed global equities to underweight on growth concerns, believes that European stocks can outperform weaker markets. Although European equities have over the past 30 years tended to decline more than global markets during corrections, that relationship is changing, strategists led by Graham Secker said …

Bloomberg Deutsche Bank AG unveiled a radical overhaul that will see the lender exit its equities business, post a $3.1 billion second-quarter loss and cut the workforce by a fifth to reverse a slide in profitability. Chief Executive Officer Christian Sewing will shelve the dividend this year and then take restructuring charges of 7.4 billion euros through 2022 to pay …