07:26 AM EDT, 10/15/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries seesaw in New York session, better bid in Asia. E-minis fall after President Donald Trump comments, recover in Asia. EUR rises to $1.162, oil little changed, gold reaches new high near $4,200/oz.

Fed: Chair Jerome Powell says the Federal Reserve may end balance-sheet runoff in coming months, emphasizes that labor market perceptions remain on downward trajectory. Boston Federal Reserve President Susan Collins says it's prudent to normalize rates a bit further this year, policy would remain restrictive, but inflation continues to be on top of her mind.

Trade: China is holding firm line due to conviction that the U.S. economy can't absorb a prolonged trade conflict (WSJ cites sources). Trump is considering trade measures as retribution as China is "purposefully not buying" U.S. soybeans. Treasury Secretary Scott Hassett says China needs to come to the table, the U.S. has a lot of leverage.

U.S./Argentina: Economy Minister Luis Caputo says U.S. Treasury is finalizing details of foreign exchange swap and may buy pesos (ARS), foreign exchange futures and Argentine bonds. Bessent is "happy" with the currency arrangement.

Russia-Ukraine war: The United Kingdom and Canada will join the European Union plan to tap a portion of the $300 billion in Russian assets to support Ukraine.

Middle East: Israel and Hamas have begun talks on the second stage of the Gaza plan (Haaretz).

==EUROPE:

ECB: European Central Bank Governing Council (GC) member Francois Villeroy de Galhau says a rate cut is "more plausible" than a rate hike. President Christine Lagarde sees nothing disorderly at the moment in European markets. GC member Gabriel Makhlouf says inflation is where we want it to be, with risks rather to the upside.

France: Olivier Faure confirms that Socialists have decided "collectively" not to oust Prime Minister Sebastien Lecornu, calls on members of parliament to respect this decision. Assembly head Boris Vallaud calls suspension of pension reform a victory. Villeroy says France must reduce the budget deficit significantly, adds that the biggest part of fiscal solution is on the spending side.

France: AFT announces OAT issuance volume of 310 billion euros net of buybacks in 2026.