06:35 AM EDT, 06/11/2026 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries fall after the U.S. announces it has completed strikes on Iran, then fully recover losses during the Asian session. E-minis mirror USTs amid mixed Asian equities. Key foreign exchange pairs zigzag sideways. Brent rises to US$95/barrel after U.S./Iran news, then partly reverses after.

Fed: The Federal Reserve confirms that Chair Kevin Warsh will hold a press conference next week.

Trade: President Donald Trump says he's not looking to renew the USMCA trade deal, says the U.S. needs nothing from Mexico or Canada and both must treat the U.S. better.

U.S.: President Trump calls on Congress to pass reconciliation bill. On another occasion, he says he has the right to sell Fannie Mae and Freddie Mac, reiterates they could be worth $1 trillion.

U.S.: The department of justice is probing big banks over alleged "debanking" of clients, subpoenas sent (WSJ).

Iran war: The U.S. launches strikes on multiple targets in southern Iran and Tehran retaliates. The IRGC says it struck two vessels in the Strait of Hormuz, declaring Hormuz closed to all vessels. President Trump tells Fox that the bombing will stop shortly, but resume the next day if no deal is reached. He says the U.S. controls the Strait of Hormuz, claims over 200 commercial ships and more than 100 million barrels of oil are transiting.

Iran war: U.S. and Iranian officials held talks via Qatari mediators in Doha over the past two days (Axios). Israel's Defense Minister Israel Katz says the Iran war is far from over, warns the Israeli army is poised to strike "with great force."

==EUROPE:

Germany: Fuel subsidy ("Tankrabatt") to end on July 1 as planned.

==ASIA:

Japan: Cabinet Secretary Minoru Kihara says Bank of Japan Governor Kazuo Ueda's hospitalization won't disrupt policy operations.