Don’t get too excited about Deutsche Bank’s unexpected quarterly profit, as the bank still faces a massive $14 billion settlement from the U.S. Justice Department. “The elephant in the room continues to be the settlement with the Department of Justice,” said Craig Erlam, a senior market analyst at Oanda, based in London, adding that the settlement makes it difficult for the stock to push on. Deutsche Bank also raised its litigation reserves to 5.9 billion euros, compared to 5.5 billion euros in its previous quarter, far from the $14 billion the Department of Justice seeks. TheStreet’s Scott Gamm reports from Wall Street.
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