06:45 AM EDT, 10/09/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries weaken after 10-year auction, seesaw in Asia. Bund future mirrors UST moves, OAT future holds steady. Asian equities supported, EUR back at $1.164, Gold takes a breather after reaching record high above $4,000/oz.

Fed minutes show a majority of board members are cautious about upside risks to inflation, while considering policy easing appropriate for this year. "Almost all" officials supported the cut in September. A few officials said bank reserves continue to look abundant.

U.S.: Treasury Secretary Scott Bessent ends first round of interviews of Federal Reserve chair candidates, with Kevin Warsh, Christopher Waller and Kevin Hassett emerging as front-runners (FT).

Trade: President Donald Trump excludes generics from Big Pharma tariff plan, but the decision isn't final yet (WSJ).

Middle East: Israel and Hamas agree to the first phase of the peace plan, including terms for the release of all hostages. Qatar says the agreement will lead to the end of the Gaza war.

IMF and Bank of England warn that AI boom risks 'abrupt' stock market correction.

==EUROPE:

France: President Emmanuel Macron will name a new prime minister within the next 48 hours, after Sebastien Lecornu says that the majority in the National Assembly opposes dissolution; cautions that France must find a way to have a debate on pension reform as consequences of a failure to agree on a budget would be dramatic. He says "this is not the time to change the President."

Germany: Night session of coalition committee brings no results on combustion engine phase-out ahead of Thursday's "auto summit."

==ASIA:

China announces export controls on rare earth materials due to 'national security' concerns.