06:18 AM EDT, 09/24/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: United States Treasuries recover in late New York, bear-steepen in Asia after China stimulus. E-minis are rangebound, Chinese equities rally. Yuan gains, other major crosses are little changed. Oil is supported, gold hits record.

Fed: Chicago Federal Reserve Bank President Austan Goolsbee says "we have a long way to come down" to neutral, warns of leaving "sweet spot" on dual mandate when staying restrictive for too long. Minneapolis Federal Reserve President Neel Kashkari expects "smaller steps unless the data changes materially."

Middle East: The US will send a "small number" of additional troops, Lebanon official says yesterday's bombing killed 274.

== EUROPE:

ECB: President Christine Lagarde says the European Central Bank and Federal Reserve "talk to each other, but we don't coordinate" (TV interview).

Germany: Economy Minister Robert Habeck signals support for the car industry after Monday's "Auto summit," Finance Minister Christian Lindner opposes scrappage bonus.

UK: British Finance Minister Rachel Reeves considers changing fiscal rules to allow more capital spending in next month's budget (media sources).

Banks: ECB-supervised banks' RoE rose to 10.1% in Q2, the highest since data began nine years ago.

European Union raids financial firms suspected of involvement in a cartel related to financial derivatives.

== ASIA:

China: The central bank unveils broad stimulus, cuts RRR 50bps to 9.5%, seven-day repo by 20bps to 1.5%, unveils package to shore up property sector, sets up facility to borrow from PBoC to buy stocks and mulls setting up stock stabilization fund.

Japan: Central bank Governor Kazuo Ueda says upside inflation risks have eased, rates to rise if economic outlook materializes.