06:27 AM EDT, 10/24/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries weaken in late New York session, better bid in Asia. SPX drops into close, e-minis better supported. EUR trades around $1.079, yen slides versus USD. Brent rises to $75.8/barrel.

Fed: Beige Book reports flat growth since early September while employment and prices increased modestly. Richmond Federal Reserve President Thomas Barkin says that the supply of skilled workers remains limited.

==EUROPE:

ECB: Governing Council (GC) member Mario Centeno thinks the European Central Bank should consider steeper rate cuts as it is probably behind the curve and should get to neutral as soon as possible. GC member Robert Holzman says a quarter-point cut is probable in December. GC member Fabio Panetta says low inflation and weak growth are "conducive to further loosening monetary policy," won't exclude going below neutral, adding that 2% inflation target is likely to be reached much earlier than end-2025. GC member Jose Luis Escriva says risks to inflation remain balanced. GC members Francois Villeroy de Galhau and Joachim Nagel agree that the ECB will keep its options open for the December decision.

BoE: Bank of England Governor Andrew Bailey says the United Kingdom's disinflation is happening faster than anticipated.

Germany: Finance Minister Christian Lindner sharply criticizes Economy Minister Robert Habeck's "Deutschlandfonds" plan.

UK: Finance Minister Rachel Reeves says the upcoming budget would "reset" the economy and boost investment; plans to change fiscal rules to allow for 50 billion pounds in extra funding for infrastructure.

==ASIA:

Japan: Central bank Governor Kazuo Ueda says the right size and timing of normalization "keeps him awake 24/7."

Japan: Finance minister warns about yen's rapid moves.