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Deutsche Bank Working With EU Bond Cartel Probe; Shares Hit Fresh Record Low

Martin Baccardax

shares fell to a fresh all-time low Thursday after European antitrust regulators charged four regional lenders with taking part in a bond trading cartel that lasted at least seven years. The European Commission did not name the banks alleged to have participated in the alleged cartel, and Deutsche Bank said it can't comment on the ongoing probe even as it said it was proactively co-operating with regulators, but investors clipped shares in the bank sharply lower following news of the investigation and last night's rate hike from the U.S. Federal Reserve. "The Commission has concerns that at different periods between 2009 and 2015, the four banks exchanged commercially sensitive information and coordinated on prices concerning U.S. dollar supra-sovereign, sovereign and agency bonds, known as "SSA bonds"," the Commission said in a statement.