06:38 AM EDT, 10/08/2024 (MT Newswires) -- Markets: United States Treasuries trade sideways into the New York close, edge higher in Asia. E-minis are lower, Asian equities mixed with China surging at the opening, then paring gains, Hong Kong down over 5%. The euro hovers around $1.098, Brent slips after hitting $80/barrel.

Fed: Minneapolis Federal Reserve President Neel Kashkari says the balance of risks has shifted from inflation toward employment. St. Louis Federal Reserve Bank President Alberto Musalem prefers further rate cuts to be gradual, warns of "easing too much too soon." Federal Reserve Bank of New York President John Williams says the US is well positioned for a soft landing, as the jobs report shows that the economy is in good health. Emphasizes that the current stance of policy is well positioned, goal is to move rates to neutral "over time."

== EUROPE:

ECB: European Central Bank Governing Council (GC) member Joachim Nagel is open to considering another interest rate cut next week; adds that "we are clearly approaching our target of 2%" and H2 growth is turning out weaker than expected. GC member Frank Elderson has an open mind before the October policy meeting.

Italy: The central bank signals concerns over government growth targets, as the economy is likely to expand less than previously expected.

UK: British business confidence drops due to tax concerns ahead of the upcoming budget. Retail sales increased 2.0% year over year, the strongest pace in six months.

== ASIA:

China: National Development and Reform Commission chair says he has "full confidence" that China will reach its growth target, pledges to prioritize consumption and expand domestic demand.

Japan: Japanese investors bought a record amount of USTs in August, sold France's OATs for the fourth consecutive month, but less than in July. Base salaries rose by a record 2.9% year over year in August while the consensus was 3.0%.