06:16 AM EST, 11/04/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Monday highlighted:

Markets: United States Treasuries bear-steepened into New York close with 30-year yields rising to the highest level since July, and rebounded in Asia on the latest election polls. The US dollar (USD) is under pressure with the euro (EUR) rising to $1.09. Brent rises above $74/barrel.

US: Final national NBC poll sees Donald Trump and Kamala Harris tied at 49% each. Harris' betting average improves to 48%, from below 40% last week.

US: NY Fed Q4 GDP Nowcast declines to 2.01% from 2.47%.

Middle East: Iran sharpens rhetoric, warns of "crushing response" to Israel's latest strikes. US warns Iran that it cannot prevent Israel from larger retaliatory attacks (Axios).

OPEC+ agrees to delay the December output hike for one month.

==EUROPE:

Germany: CDU members call Finance Minister Christian Lindner's economic paper, leaked on Friday, the coalition's "divorce certificate." Prime Minister Olaf Scholz summons Lindner and Economy Minister Robert Habeck to seek common ground. Bloomberg sources confirm that the government would face a budget gap of 75 billion euros if the Federal Constitutional Court (FCC) were to rule against the so-called solidarity surcharge. A measured approach to block only future use puts 13 billion euros in tax revenues at risk for 2025. FCC hearing scheduled for Nov. 12, judgment could take several months.

UK: British Finance Minister Rachel Reeves says she was wrong about tax hike needs before the election and Labour won't need a similar budget in coming years.

==ASIA:

China urges France to play a constructive role in electric vehicle tariff talks.