06:24 AM EDT, 05/09/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries fall in late New York session, consolidate into close after "so-so" 30-year UST auction and are slightly better bid in Asia. US stocks jump on President Donald Trump headlines, later reverse most gains. EUR steady around $1.123. Brent maintains gains, trades around $63/barrel.

U.S.: Trump urges investors to "go out and buy stocks now." Says that everyone is cutting except Federal Reserve Chair Jerome Powell, adding that rate cuts would be like "jet fuel." Separately, Trump says that asking China to help on Ukraine-Russia deal would be "a natural thing to ask". Considers tax hike for individuals making more than $2.5 million.

Trade: Trump says upcoming trade talks with China are going to be "substantive." Sources report tariffs may be lowered to 50% (NY Post). Commerce Secretary Howar Lutnick says the goal with China is to lower tariffs and de-escalate, and warns that trade deals with South Korea and Japan may be more complicated than with the United Kingdom. He adds 10% baseline tariff is best trading partners can do.

US: NY Fed survey finds consumer inflation expectations for three years ahead rising to 3.2%, highest since July 2022, while five-year ahead inflation expectations drop to 2.7% from 2.9%. Atlanta Fed GDPNow little changed at 2.26%.

==EUROPE:

Italy: Tesoro announces to tap BTP Jun28 (3 billion-3.5 billion euros), Jul32 (2 billion-2.5 billion euros) and Sep43 (1 billion-1.5 billion euros) next week.

U.K./U.S.: Trade deal includes reduction of tariffs on steel and aluminum to zero and on cars to 10%.

BoE: Bank of England Governor Andrew Bailey is "open minded" about the June meeting.

==ASIA:

China: Trade surplus declines to $700 billion as export growth drops to 9.3% year over year and imports rise to 0.8%.