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Commerzbank on Overnight News
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Commerzbank on Overnight News
Sep 1, 2024 6:11 AM

06:13 AM EDT, 08/30/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries (UST) and e-minis rangebound in Asia after US stocks slip in late New York, close near lows. DXY little changed, Brent climbs back above 80 $/barrel.

Fed: Federal Reserve Bank of Atlanta President Raphael Bostic says inflation is "still far" from the 2% target, says he penciled in a long-term rate of 3% for the June dot plot.

US: Vice President Kamala Harris tells CNN her "values have not changed." Prices "are still too high", "day one" will be about implementing plans for "opportunity economy." Former President Donald Trump says he'll unveil a plan to make the US "crypto capital of the planet."

Polls: Harris has a narrow lead over Trump in WSJ (48%/47%) and Quinnipacpoll (49%/47%), widens lead in Reuters poll (45%/41%). She leads or is tied with Trump in seven swing states according to a Bloomberg/Morning Consult poll.

Ratings: Fitch affirms US at AA+/stable.

== EUROPE:

ECB: European Central Bank Governing Council member Joachim Nagel says "we must not lower policy rates too quickly" as the 2% target is "in sight" but "not reached."

The Netherlands: August HICP fell less than expected, to 3.3% y/y (consensus was 3.1%).

France: President Emmanuel Macron's approval rating improved to 29% in BVA Xsight poll, up 3pts from the June low.

Banks: Bank of England (BoE) to publish "near final" Basel III interpretation on Sept. 12.

== ASIA:

Japan: Tokyo core inflation rose to 1.6%, the consensus was looking for a decline to 1.4%. Industrial production (IP) and retail sales were slightly softer.

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