06:23 AM EST, 12/13/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

-- Markets: United States Treasuries stabilize in Asia after New York sell-off. E-minis recover after US equities close at lows, lack of stimulus details drag down Chinese stocks. USD strengthens, oil stable in Asia.

US: Chinese President Xi Jinping isn't expected to attend Donald Trump's presidential inauguration on Jan. 20 (CBS). Trump advisers want to "dramatically shrink, consolidate or even eliminate" bank regulators (WSJ).

==EUROPE:

European Central Bank policymakers expect another 25bps cut in January "and probably also in March as inflation stabilizes," 50bps cut "remains an option in case of emergency but risks conveying an unintended sense of urgency (Bloomberg sources). A handful of Governing Council members initially wanted a 50bps rate cut, concerned about tariffs; some argued that ECB is overestimating growth (Reuters sources).

European Union to remain classified as "Supernational" after the end of iBoxx consultation.

France: New prime minister to be announced Friday. President Emmanuel Macron with a steady approval rating in the latest polls (Ifop 25%, Elabe 21%).

Germany: Labor Minister Hubertus Heil wants to expand short-time work allowance ("Kurzarbeit") from 12 to 24 months to avoid an increase in unemployment.

Italy: Finance Minister Giancarlo Giorgetti sees 2024 gross domestic product growth at 0.7%, but the revised forecast won't affect the budget (Radiocor).

Austria: DMO plans 43 billion-47 billion euros RAGB issuance in 2025 -- slightly down from 49 billion euros this year -- with three syndications (funding plan).

UK: British GfK Consumer Confidence rose to -17 in December, versus the expected unchanged reading of -18.

==ASIA:

Japan: Large manufacturer Tankan rose more than expected in December.