06:43 AM EST, 11/12/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlighted:

Markets: United States Treasuries are supported. US equities pare gains, Asia trades softer. The US dollar stays supported with EUR below $1.065. Bitcoin surges above $88,000, oil weakens.

US: Republicans win majority in House according to DDHQ. Incoming President Donald Trump to pick Mick Waltz as National Security Advisor and Marco Rubio as Secretary of State. He plans to meet the House Speaker and new Senate Majority Leader on Wednesday.

BIS: Spain's Pablo Hernandez de Cos to succeed Agustin Carstens as head of the Bank for International Settlements

Geopolitics: North Korea signed a mutual defense treaty with Russia according to state media KCNA.

==EUROPE:

Germany: Prime Minister Olaf Scholz refuses to hold a confidence vote this week. Center-right CDU leader Friedrich Merz is open for new parliamentary elections in February.

EU mulls changing spending policies, redirecting billions in the budget to defense (FT).

==ASIA:

China plans to cut home purchase tax in fiscal stimulus (Bloomberg).

Japan pledges more than 10 trillion yen in fresh support for the semiconductor and Artificial Intelligence sector.