06:32 AM EDT, 05/06/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Tuesday highlightedd:

Markets: United States Treasuries bear-steepen in Asia with 30-year yield rising above 4.8%. U.S. equities weaken in late New York, e-minis stay on back foot in Asia. US dollar consolidates after the EUR briefly slipped below $1.13. Oil extends recovery with Brent closing Monday's opening gap. Gold gains.

U.S.: Treasury Secretary Scott Bessent says the U.S. is "premier destination" for global capital. Both Main Street and Wall Street can prosper under President Donald Trump. Bessent reiterates his focus on 10-year yield and aims to "take away the credit risk" of UST in order to bring down rates.

Tariffs: Trump says China wants to make a deal "very badly." He wants to announce pharma tariffs over next two weeks. U.S. rejects Japan's exemption from "reciprocal" tariffs (Kyodo). Commerce Secretary Howard Lutnick says prospects for a Canada trade deal are "really complex."

Ratings: S&P affirms Canada at AAA/stable.

==EUROPE:

ECB: European Central Bank Governing Council member Yannis Stournaras says "it seems we will continue" cutting rates, expects tariffs to dampen inflation.

==ASIA:

China: Caixin Services PMI falls more than expected to 50.7, while the consensus was 51.8.