06:17 AM EDT, 05/22/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries bear-steepen after 20-year auction disappoints, with 30-year rising to 5.1% in Asia. U.S. equities continue to sell off in late New York session, Asian equities mostly weaker while e-minis find support in the overnight session. US dollar broadly unchanged, oil recovers near $65/barrel, gold rallies, bitcoin surges to record.

U.S.: House Rules Committee advances tax bill after last-minute changes, "pre-dawn" vote is scheduled for Thursday. White House economic adviser Kevin Hassett predicts tax bill will lead to 3% growth and will pay for itself, says more spending cuts to come this year.

U.S. agencies: President Donald Trump says he's "giving very serious consideration" to taking Fannie Mae and Freddie Mac public.

Russia-Ukraine war: Trump tells European Union leaders in private that Russian President Vladimir Putin isn't ready to negotiate peace as he believes he's winning (WSJ).

==EUROPE:

ECB: European Central Bank Governing Council member Jose Luis Escriva says it's more difficult to predict how tariffs impact inflation, also given the recent unexpected euro appreciation.

Germany: Tax revenues rose 10.2% year over year in April due to special effects (finance ministry monthly report).

==ASIA:

Japan: Central bank board member Asahi Noguchi says markets should decide long-term rates. Sees no need to change current tapering plan. Terminal rate shouldn't be pre-determined.