06:40 AM EDT, 10/09/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries better bid into New York close as break-evens hit new highs. Oil little changed, US equity futures soft, US dollar well supported.

Fed: Federal Reserve Vice Chair Philip Jefferson is taking decisions meeting-by-meeting, risk to inflation and employment have been brought roughly into balance. Boston Fed President Susan Collins urges a careful, data-dependent approach, expects core inflation to return to 2% in 2025. Atlanta Fed President Raphael Bostic says the employment side of the mandate starts to become more salient because inflation has come down so far.

US: President Joe Biden says Hurricane Milton "could be the worst storm to hit Florida in over a century."

== EUROPE:

ECB: European Central Bank Governing Council (GC) member Yannis Stournaras backs two more 25bps cuts this year, sees likely case for more easing next year, warns that highly restrictive key rates could drive inflation below target (FT). GC member Joachim Nagel says a Donald Trump US presidential win could bring inflation risks as well as noticeable losses in growth in the eurozone and Germany.

France: No-confidence vote fails with only 197 votes versus 289 needed. Budget plan for 2025 includes doubling taxes on electricity, which is expected to raise 6 billion to 7 billion euros (Les Echos).

Portugal: Minority government says negotiations with opposition have ended, expects the budget to pass in parliament on Thursday.

Italy: Finance Minister Giancarlo Giorgetti expects to miss the official growth target for this year following an accounting revision but this "doesn't raise concerns for the following years."

== ASIA:

China: Finance minister to hold a briefing on Saturday about intensifying adjustment of fiscal policy.