05:59 AM EDT, 08/08/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries tumble after weak 30-year auction, rangebound in Asia. U.S. equities recover into close, strong Nikkei keeps futures supported. DXY softer on Stephen Miran news as temporary member on Federal Reserve Board, gold zig-zags, oil little changed.

Fed: President Donald Trump nominates Miran as Adriana Kugler's successor, highlights his "unparalleled" expertise; Christopher Waller is the leading choice for Fed chair. Miran tells Bloomberg TV that Waller has an "impressive track record", has done himself a "big credit" by "not succumbing to the tariff derangement syndrome." Treasury Secretary Scott Bessent says Fed has a "lack of logic".

Private markets: Trump signs executive order easing access to alternative assets such as private equity, real estate and crypto in 401 (k)s.

U.S. banks: Senator Elizabeth Warren urges Fed's Lisa Cook to activate countercyclical buffer as "chaotic tariff policies" might cripple banking system and economy; also concerned of the build-up of pockets of risks in financial system since GFC, including private credit.

Russia-Ukraine war: Trump says Russian President Vladimir Putin doesn't have to meet Ukrainian President Volodymyr Zelenskiy before meeting him.

Israel: Security cabinet approves plan to take full control of Gaza City.

==EUROPE:

BoE: Bank of England Governor Andrew Bailey reiterates rates are on a downward path, but there is more uncertainty "when the steps are taken." BoE analysis warns long-end bond sales under quantitative tightening (QT)a could have "larger impact" on liquidity given lower demand for long-term assets.

==ASIA:

Japan says the U.S. confirmed end of the stacking of universal tariffs on Japan, will cut car levies as promised. U.S. officials would have expressed regret that the stacking rule had been applied despite verbal agreement, the U.S. would refund any overpaid levies.

India and Russia stress commitment to "strategic partnership" in Moscow talks. Indian Prime Minister Narendra Modi discussed trade with Brazilian President Luiz Inacio Lula da Silva on Thursday, expected to meet Chinese President Xi Jinping for first time in seven years in August.