06:27 AM EDT, 09/03/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: Germany's Bund and United States Treasury (UST) futures recover in late European trading and Asia. Equities are little changed. The euro (EUR) slips. Oil rises after Libya declared force majeure on key oil field.

US: Vice President Kamala Harris voices opposition to Nippon Steel's buyout plans of United States Steel Corp.

== EUROPE:

ECB: European Central Bank (ECB) Rate cuts will get "a lot more contentious" once rates fall to about 3% (Bloomberg sources).

France: Budget deficit is at risk of reaching 5.6% rather than the 5.1% targeted by the caretaker government, requiring 15 billion euros in extra savings (French media).

Germany: Lower Saxony's Premier Stephan Weil says the state supports Volkswagen's cost-cutting efforts but expects factory closures to be avoided.

Germany: Pressure on banks to remain high from provisioning, rising costs and falling interest margins, says Federal Financial Supervisory Authority (Bafin) Chief Mark Branson in HB interview.

Germany: Ifo's President Clemens Fuest says far-right AfD political gains could exacerbate the shortage of skilled workers.

Spain will announce a new central bank governor on Wednesday.

Italy: Elon Musk will hand Prime Minister Gerogia Meloni a global citizenship award this month.

UK: BRC retail sales recovered to 0.8% in August.