06:21 AM EST, 12/05/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries extend their rally in the late New York session, open slightly better offered in Asia. US stocks reach new highs. EUR trades around $1.052, Brent dropped below $72.5/barrel. Bitcoin jumps above $100,000 on Trump's Securities and Exchange Commission pick.

Fed: Beige Book reports a stable economy and optimistic outlook for next year; inflation remains a problem in some parts of the economy. Chair Jerome Powell says the Federal Reserve can move more slowly in lowering rates as the economy looks better than when cuts began in September. Federal Reserve Bank of San Francisco President Mary Daly sees no urgency in lowering interest rates.

US: President-elect Donald Trump picks crypto proponent Paul Atkins to head SEC.

==EUROPE

ECB: European Central Bank Governing Council member Joachim Nagel doesn't see a significant risk of inflation undershooting and cautions against cutting rates below neutral (speech).

France: Parliament ousts Prime Minister Michele Barnier's government in a motion of no confidence approved by 331 out of 577 members of the national assembly. President Emmanuel Macron must now select a new PM; he will speak at 8 p.m. CET on Thursday. Far-right leader Marine Le Pen says she isn't calling for Macron's resignation and is willing to work on an acceptable budget.

Germany: The German Economic Institute IW expects only 0.1% gross domestic product growth in 2025 (Reuters).

==ASIA:

Japan: Bank of Japan Board member Toyoaki Nakamura urges caution regarding raising rates.