06:15 AM EDT, 10/22/2024 (MT Newswires) -- Markets: Bearish steepening sell-off in United States Treasuries continues in late New York and Asia, taking 10-year yields above 4.2%. E-minis drop, Asian equities are mixed. Euro supported, yen slides, Brent hovers around $74/ barrel.

Fed: Minneapolis Fed President Neel Kashkari favors reducing rates at a slower pace in coming quarters. Dallas Federal Reserve Bank President Lorie Logan reiterates that the Fed should proceed carefully in an uncertain economic environment. San Francisco Fed President Mary Daly sees no reason to stop cutting rates, as policy is still tight. Kansas City Federal Reserve Bank President Jeffrey Schmid sees a slower pace for cuts appropriate.

US: Moody's raises outlook for US banking system to stable from negative.

Middle East: US Secretary of Stata Antony Blinken heads to Israel to broker a potential ceasefire.

== EUROPE:

Germany: Federal and state tax revenues rise by almost 7% year over year in September, 2.9% year-to-date. The finance minister says "short-term economic outlook remains bleak." CDU calculations point to an additional budget gap of over 40 billion for next year. New tax estimates will be presented on Thursday.

France: The government submits a long-term fiscal plan, sees 2029 deficit at 2.8% with growth accelerating from 1.1% (2025) to 1.5% (2027).

== ASIA:

China: SAFE announces counter-cyclical adjustments in a timely manner if necessary to stabilize foreign exchange markets.

Japan: Prime Minister Shigeru Ishiba shows support for a minimum wage increase of 40% in case the LDP wins Sunday's parliamentary election.