07:04 AM EST, 11/13/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries started to stabilize in the late New York session, continue to weaken in Asia. Global equities are down. EUR falls to $1.062. Brent trades around $72/barrel.

Fed: Minneapolis Federal Reserve Bank President Neel Kashkari says only "surprise on the inflation front" could cause the Fed to pause in December. NY Fed one-year consumer inflation expectations drop by 0.1pp to 2.9%, lowest in four years; three-year drops to 2.5% and five-year to 2.8%. SOMA manager Roberto Perli says money market liquidity remains ample.

US: Incoming President Donald Trump picks Elon Musk and Vivek Ramaswamy to head the new Department of Government Efficiency and Fox News's Pete Hegseth to head the Pentagon. Mike Huckabee to become ambassador to Israel.

==EUROPE:

ECB: Euroepan Central Bank's Martins Kazaks says the base scenario is to lower rates "step by step."

Germany: Finance Minister Joerg Kukies says there will be no budget freeze this year, but it's unrealistic to pass the 2025 budget law before new parliamentary elections.

France: Lawmakers reject the recently amended 2025 budget bill, allowing the government to submit an original budget proposal to the senate. France's central bank expects Q4 GDP growth to stagnate.