06:23 AM EDT, 07/25/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries (UST) sell off sharply in the late New York session, consolidate in Asia. SPX drops on tech stock weakness. Yen (JPY) climbs 1% against the US dollar (USD), euro (EUR) is steady at around $1.084. Brent slightly weaker, trades around $81.1/barrel.

US: Former President Donald Trump tops Vice President Kamala Harris by three points in the latest CNN poll.

Atlanta Fed GDPNow suggests Q2 growth at 2.61% (consensus for Thursday's official release is 2%).

Israel: Gaza ceasefire deal is close according to US officials (Reuters sources).

== EUROPE:

BoE: The Bank of England reveals details of a new repo facility designed to directly lend cash against gilt collateral to non-bank financial institutions in times of severe market dysfunction.

UK/Germany sign new defense pact.

UK: Tom Tugendhat is running to become the next leader of the Conservative party in the United Kingdom.

== ASIA:

Japan: The central bank (BoJ) is set to discuss rate a hike at next week's meeting as well as plans to halve bond purchases over coming years (Reuters sources).

China: The central bank (PBoC) unexpectedly lowers the one-year medium-term lending facility (MLF) rate by 20bps to 2.3%.