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Commerzbank on Overnight News
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Commerzbank on Overnight News
Oct 23, 2024 4:05 AM

06:33 AM EDT, 10/23/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries fall in Asia, while e-minis are steady. Asian equities mixed. Yen slides, other key currency pairs are broadly unchanged. Brent supported near $76/barrel, gold hits new record high, reversing early Asia losses.

US: Presidental candidate Donald Trump pledges tax break for purchasing cars manufactured in the US.

US: Trump/JD Vance file complaint against the United Kingdom's ruling Labour Party over 'foreign interference'. New Reuters/Ipsos poll shows Vice President Kamala Harris marginally leading Trump nationwide but within a margin of error. Swing states remain too close to call.

== EUROPE:

ECB: Governing Council (GC) member Francois Villeroy de Galhau says the European Central Bank must be agile, emphasises downside risk to growth if the ECB falls behind the curve. GC member Olli Rehn sees disinflation well on track, further evolution will determine the speed and scope of cuts. GC member Christodoulos Patsalides says lingering inflation risk warrants caution, 50bps cut is only justified if the situation gets much worse.

Germany: Economy Minister Robert Habeck plans "Germany funds" with a 10% government subsidy to promote investment (Bild).

==ASIA:

China: Government-related think tank urges CNY2 trillion stabilization program for markets by buying stocks and ETFs to be financed via special government bonds.

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