06:30 AM EDT, 08/12/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Monday highlighted:

Markets: United States Treasury (UST) long-end futures better bid as short-end weakens in late New York session and Asia. No UST cash trading on a Japanese holiday. E-minis steady. Yen (JPY) slightly softer, euro (EUR) little changed around $1.0915. Brent gains close to $80/barrel.

Fed: Federal Reserve Governor Michelle Bowman says inflation is still "uncomfortably above the committee's 2% goal," citing fiscal policy, pressure on the housing market and geopolitical risks among factors that could put upward pressure on inflation.

US: Vice President Kamala Harris says she won't interfere with Federal Reserve independence after former President Donald Trump said he wanted some say over interest rates. Harris leads Trump in three swing states according to a NYT poll. The US provides $3.5 billion to Israel to spend on US weapons.

US nowcasts: The St. Louis Fed gross domestic product (GDP) model suggests Q3 growth at 1.63%, while the NY Fed Nowcast suggests 2.24%.

== EUROPE:

ECB: The Latest Bloomberg survey shows economists expect six European Central Bank cuts by the end of 2025, taking the depo rate to 2.25%.

BoE: Bank of England Monetary Policy Committee (MPC) Catherine Mann says UK wage growth is still a concern for inflation.

Germany: Finance Minister Christian Lindner argues against loosening the debt brake as European Union law "simply does not allow the billions of debt of which some [...] dream."

UK: Survey shows British employers expect a 3% pay raise over the coming year, the lowest in two years.

== ASIA:

Japan Central bank (BoJ) former Board member Makoto Sakurai expects no more hikes this year after the recent market turmoil.