06:04 AM EDT, 07/05/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries (UST) and Germany's Bunds recover in Asia, e-minis looking for direction after the US Independence Day holiday and ahead of payrolls. Asian equities mostly softer, oil drops overnight Thursday. The US dollar (USD) softer; sterling (GBP) little changed versus the euro (EUR).

US: President Joe Biden tells soldiers he is "not going anywhere" at White House event, will be interviewed by ABC on Friday. Former President Donald Trump calls for another TV showdown, his camp intensifies attacks on Vice President Kamala Harris.

== EUROPE:

ECB: European Central Bank President Christine Lagarde says the disinflationary path is going to continue, but requires additional reassurance that inflation is on the path to target before cutting further. Services prices and wage dynamics remain key.

UK: Labour with the expected landslide victory in the United Kingdom, projected to win 405 of 650 seats. Tories drop to 154. Liberal Democrats climb to 56, Nigel Farage's Reform UK take four.

France: Latest Elabe poll projects 200-230 seats for far-right RN and allies at Sunday's second-round parliamentary election, well below the 289 hurdle for a majority.

Germany: Coalition agrees on 2025 budget as well as growth measures ("Wachstumsturbo"), details to be presented early Friday. 79% of Germans are unsatisfied with the government (+5), new BSW gains to 8% (+3) (ARD).

Ukraine: Russian President Vladimir Putin says Trump "sincerely" wants to end the war, Russia is ready to support his idea on war.

Ratings: S&P upgrades eight Greek banks as "active balance sheet clean-up is coming to an end as [Greek banking system] achieves full post-crisis recovery".

== ASIA:

China: The central bank (PBoC) signs agreements with banks to borrow "hundreds of billions" of bonds it can sell to stem yield decline.