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SocGen's Overnight Economic News Summary

BY MT Newswires | TREASURY | 06/26/25 05:48 AM EDT

05:48 AM EDT, 06/26/2025 (MT Newswires) -- Societe Generale in its early Thursday economic news summary pointed out:

-- US dollar gaps down for the second time this week as two- and 10-year United States Treasury yields extend below technical support of 3.80% and 4.29%. DXY plummets to 97.60, lowest since February 2022. WSJ: President Trump may announce new Fed chair in September/October. EUR/USD scales 1.17, Cable vaults 1.37. Two-year UST dips to 3.76%, 10-year off to 4.26%. Euro 5y5y steady at 2.13%, Bund -2.5bps at 2.54%.

-- Asia foreign exchange: USD/CNY slides below 7.16 for the first time since November following another strong PBoC fixing. Taiwan's TWD climbs to a three-year high of 29.10. Hong Kong's HKMA intervenes for the first time since May 2023, selling $1.2 billion to support the currency (HKD) at 7.85.

-- Day ahead: U.S. durable goods orders, weekly jobless claims, Q1 gross domestic product final reading. Federal Reserve speakers are Daly, Barkin, Hammack, Barr. European Central Bank's de Guindos, Schnabel, Lagarde. Bank of England's Breeden and Bailey. Mexico's Banxico forecast to cut by 50bps. The United Kingdom 20-year gilts auction.

-- Nikkei +1.6%, EUR 10-year IRS -1bp at 2.555%, Brent crude +0.4% at $68/barrel, Gold flat at $3,334/oz.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

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