05:57 AM EDT, 10/30/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries rally into New York close, sideways in Asia. E-minis reverse gains with weaker Asian equities, Japan stocks gain. The US dollar trades stronger, Gold reaches an all-time high, Brent crawls up to $71.6/barrel.

US: Republican presidential candidate Donald Trump says Europe will "pay a big price" for not buying enough US exports if he wins election, promises to pass a reciprocal trade act. Democratic presidential candidate Kamala Harris says biggest challenge for the next administration will be to lower costs. Pro-Trump billionaire Elon Musk acknowledges that his plan to cut $2 trillion in US spending could bring economic turmoil (WP). Harris says another Trump presidency would be steeped in chaos, calling him "unstable and out for unchecked power."

US: Harris' lead over Trump narrows from 44% to 43% (Reuters/Ipsos poll).

==EUROPE:

France: Q3 gross domestic product rose 0.4% quarter over quarter, stronger than expected as consensus was 0.3%.

European Union imposes tariffs on China's electric vehicles, ranging up to 45%. China still hopes to find an acceptable resolution, Ministry of Commerce says.

Switzerland: Central bank President Martin Schlegel say rates may need to be cut again "over the next quarters", "ensuring that policy doesn't become too restrictive."

UK: Institute of Directors and CBI warn British Finance Minister Rachel Reeves of "perfect storm" ahead of budget, say the combination of tax hikes and higher minimum wages will deter businesses.