06:34 AM EDT, 06/04/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries better supported into New York close, sideways in Asia. Bund future opens higher, then slips in Asia. E-minis broadly unchanged after close, Asian equities bid. US dollar stronger, Brent below $65.4/barrel.

Fed: Federal Reserve Governor Lisa Cook says Fed is well positioned but must be open to "all possibilities" regarding rates. Chicago Federal Reserve President Austan Goolsbee says tariffs could boost inflation quickly, take longer to slow economy.

Trade: President Donald Trump signs an order doubling tariffs on steel and aluminum to 50%, with an exemption of the United Kingdom. Treasury Secretary Scott Bessent says China has a choice whether it is a dependable partner or not.

U.S.: Elon Musk calls tax bill a "disgusting abomination," while four senators demand changes to bill.

==EUROPE:

Germany: Proposed corporate tax breaks will amount to 46 billion euros in total by 2029 (FT). Note that German media reported earlier about this bill to be passed by the cabinet on Wednesday.