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Yields on Deutsche Bank CoCos rise to more than 13%

Investors feel pain as yields soar from 7.5% at start of year while shares plummet 40% in same period


WHEN European regulators created a new type of bank debt, the idea was to transfer risk from taxpayers to investors. Now, bondholders are learning what that really means.

Yield-starved investors bought US$102 billion of the contingent convertible bonds (CoCos), securities