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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 07/16/25 06:00 AM EDT

06:00 AM EDT, 07/16/2025 (MT Newswires) -- Societe Generale in its early Wednesday economic news summary pointed out:

-- US dollar and United States Treasury yields consolidate post U.S. consumer price index gains in Asia, the producer price index is set for Wednesday will offer takeaways for PCE. DXY crosses 98.50, EUR/USD off sub 1.1593 low, USD/JPY scales 149.00. UST 30-year yield stalls at 5.0%, 10-year near 4.50%, September FOMC pricing drops to -14bps.

-- U.S. tariffs to delay Federal Reserve rate cuts? President Trump: pharma and semiconductor tariffs may hit end of July, starting low and then going "very high." Federal Reserve's Logan (non-voter): rates may need to stay steady a bit longer as firms begin passing on tariff costs.

-- United Kingdom CPI accelerates to 3.6% year over year in June from 3.4% in May, overshooting Bank of England forecast of 3.5% in Q3. Core up to 3.7%, services unchanged at 4.7%.

-- Day ahead: U.S. PPI, industrial production. Federal Reserve speakers Hammack, Barr, Williams, Barkin. Fed Beige Book. Germany 25- and 30-year Bunds issuance. U.K. benchmark auction. Poland's core CPI.

-- Nikkei +0.1%, EUR 10-year IRS unchanged at 2.68%, Brent crude +0.2% at $68.9/barrel, Gold +0.4% at $3,341/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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