07:09 AM EDT, 06/11/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries turn rangebound after U.S. stocks closed near the highs and e-minis dip. Asian stocks are supported. USD gains with EUR dropping below 1.142. Brent stabilizes above $66.5/barrel.

Fed: Treasury Secretary Scott Bessent emerges as a contender to succeed Chair Jerome Powell (Bloomberg). Reuters poll sees the Federal Reserve keeping rates on hold at least until September.

Trade: U.S. and China agree to a preliminary deal on how to implement the recent consensus. U.S. negotiators say they "absolutely agree" that issues around rare earth minerals will be resolved. The U.S. and Mexico are close to a deal to cut steel tariffs and cap imports.

Tariffs: U.S. appeals court says that President Donald Trump tariffs can stay in effect for longer.

NATO seeks to include Ukraine funds into new spending targets.

==EUROPE:

ECB: European Central Bank President Christine Lagarde says coercive trade policies aren't sustainable (speech at China's central bank). Governing Council member Yannis Stournaras sees opportunity for the euro. Europe should be able to offer a common investment vehicle, "in simple terms, something that comes closest to European government bonds" (HB).

==ASIA:

Japan: Ministry of finance official says buying back super-long government bonds from July is unrealistic and not envisioned (Bloomberg).