06:23 AM EDT, 10/22/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Wednesday highlighted:

Markets: United States Treasuries range-bound in late New York session and Asia. Equity futures are broadly stable. The euro (EUR) stabilizes above $1.160. Brent rallies to $62.3/barrel as U.S. inventories fell. Gold recovers overnight dip.

Fed: Federal Reserve Governor Christopher Waller proposes a "skinny" master account for certain institutions to provide basic Fed payment services.

Trade: President Donald Trump says tariffs on China will be about 155% from Nov. 1. European Union Trade Commissioner Maros Sefcovic urges China for "prompt resolution" of export restrictions for critical materials. The U.S. may cut tariffs on India to 15%-16% (Mint).

U.S.: Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries reached out to Trump to end shutdown.

Russia-Ukraine war: There are no plans for Trump to meet Russian President Vladimir Putin in Hungary in the immediate future, White House says. Europe and Ukraine prepare a 12-point proposal to end the war.

==EUROPE:

ECB: European Central Bank Governing Council member Yannis Stournaras says "soft landing" has been achieved as inflation is back at 2% while the economy is resilient.

Ratings: S&P downgrades EFSF to A+/stable, matching France.

Italy: BTP Valore Orders amount to 4.31 billion euros on the second day and 9.7 billion euros cumulatively, in line with previous issues.

U.K.: United Kingdom Finance Minister Rachel Reeves to take budget measures to reduce the cost of living for households.

BoE: Bank of England Governor Andrew Bailey warns of "alarm bells" ringing in the private credit sector. Policymaker Catherine Mann says consumers are still "scarred" by high inflation.

==ASIA:

Japan: Prime Minister Sanae Takaichi plans economic package to tackle inflation.