06:13 AM EDT, 03/28/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries expand long end-led gains in Asia. Nikkei leads tariff-driven losses in regional equities as e-minis stabilise. DXY firms, gold expands gains at record highs while oil drops overnight.

Fed: Federal Reserve Bank of Boston President Susan Collins calls near-term tariff inflation boost "inevitable," sees risks of a "more persistent and larger increase." Richmond Federal Reserve President Tom Barkin won't assume that the impact of tariffs on inflation will be transitory, calls "moderately restrictive" stance a "good place to be."

U.S.: President Donald Trump says he will pass "the largest tax cuts in history." White House trade adviser Peter Navarro says tariff programmes will pay for tax cuts. Elon Musk says his time at DOGE is limited to 130 days, seeks to slash $1 trillion of government spending by end of May. Secretary of Health and Human Services Robert F. Kennedy Jr plans 10,000 job cuts in major health restructuring. Congressional Budget Office (CBO) sees debt ratio exceeding 1940s peak in 2029.

Trade: European Union to impose minimal fines on Apple and Meta do avoid escalating tensions. Prime Minister Mark Carney says the old Canada-U.S. relationship is "over" (FT), will respond proportionately to next Wednesday U.S. tariff measures (Reuters).

Ukraine/Russia: U.S. demands "right of first offer" on investments in all infrastructure and natural resources. EU leaders reject sanctions relief for Russia. Russian President Vladimir Putin suggests putting Ukraine under temporary administration to allow for new elections and the signing of key accords (Reuters).

==EUROPE:

ECB: European Central Bank Executive Board member Isabel Schnabel says households' inflation "misperception" may have held back economic recovery in the eurozone.

Italy: PM Giorgia Meloni rejects "childish" choice between U.S. and Europe in FT interview, sees U.S. as "first ally".

==ASIA:

Japan: March Tokyo CPIs rise more than expected. Finance Minister Katsunobu Kato reiterates call for the U.S. to exclude Japan from auto tariffs, calls measures "extremely regrettable."