06:21 AM EST, 02/26/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries rise into New York close after five-year auction, weaker in Asia. U.S. equities recover from earlier losses, e-minis extend gains. Asian equities mostly higher, US dollar stronger, Brent stabilizes around $73.2/barrel, copper jumps.

Fed: Federal Reserve Bank of Richmond President Tom Barkin says it's appropriate for the Fed to stay moderately restrictive until it is more confident that inflation is returning to 2%.

U.S.: House of Representatives narrowly approves Repubblican budget plan, which includes $4.5 trillion in tax cuts, while seeking $2 trillion in spending cuts over the next 10 years.

U.S.: President Donald Trump says he would allow wealthy individuals to pay $5 million for a "gold card" that would grant them permanent U.S. residency. 21 civil service employees resign from DOGE. Trump launches review that could lead to copper tariffs.

Geopolitics: Ukraine and the U.S. agree on terms of the minerals deal to be signed on Friday (Reuters).

==EUROPE:

ECB: European Central Bank Governing Council member Yannis Stournaras says it's too early to discuss pausing rate cuts and the terminal rate is likely to be 2%.

Germany: Municipalities are calling for infrastructure funds besides topping up military funds and Lander to be allowed a 0.35% structural deficit like the Bund under debt brake.

EU: The European Commission expresses "serious concerns" about making the implementation of new FRTB rules voluntary for a certain time period, as it would be difficult to supervise and risks increasing fragmentation.