Deutsche isn't the only drama in banking's new negative-yield world

Below-zero interest rates may prove a threat to the whole financial sector if they last for too long

Deutsche Bank's shares rose 10% on Wednesday. Is the panic over Germany's biggest bank over? Well, a quick bounce in the share price is a useful start but any other reaction would have been alarming given the force of the verbal counter-offensive.

Chief executive John Cryan had declared Deutsche to be "absolutely rock-solid" and Wolfgang Schiuble, the country's finance minister, was obliged to lend a hand by saying he had "no concerns" about the bank. Even after these proclamations, Deutsche's shares are still down 33% since the start of the year and the bank is priced at half its book value. So, no, the crisis is not over - not for Deutsche and not for the wider banking sector.