06:25 AM EST, 11/15/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries weaker overnight after dropping into New York close after Federal Reserve Chair Jerome Powell's comments. E-minis softer after US equities close near session low, Asia mixed. USD and oil soften.

Fed: Chair Powell calls the economy "remarkably good," says it's "not sending any signals that we need to be in a hurry to lower rates." Richmond Fed President Tom Barkin underscores Fed has made "great progress", but can't declare victory, says the next months will show whether cooling labor market is "normalizing or weakening." Balance of Fed emergency BTFP program records largest weekly drop on record.

US: Incoming Senate Republican leader John Thune says all options are on the table for clearing incoming President Donald Trump's nominees, including allowing them to take their jobs without Senate confirmation. Says Matt Gaetz deserves hearings and the opportunity to be vetted. Trump selects RFK Jr. as health secretary, says Jamie Dimon won't be in his administration.

ESG: US regulators led by the Federal Reserve have refused the Basel Committee's plan for climate risk disclosure framework for banks (Bloomberg sources).

==EUROPE:

ECB: European Central Bank Executive Board member Isabel Schnabel says "monetary policy needs to be more agile." Asset purchases are a powerful tool for stabilizing markets, but she warns of the downside of quantitative easing and forward guidance. The focus should be on interest rates and longer-term refinancing operations in times of increased economic volatility (speech).

BoE: Bank of England Governor Andrew Bailey and Finance Minister Rachel Reeves call for the United Kingdom to rebuild ties with the European Union amid US tariff threats.

Germany: Center-right CDU leader Friedrich Merz signals willingness to adjust debt brake.

France: Prime Minister Michel Barnier says he "probably" will have to bypass parliament to get the budget adopted.

UK Banks: Minister Reeves says post-crisis crackdown has gone too far, UK "has been regulating for risk, but not regulating for growth," which must be addressed.

==ASIA:

China: Retail sales rose more than expected in October at 4.8% year over year versus the 3.8% expected, industrial production growth slowed slightly, home price decline slowed.