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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 08/20/25 06:12 AM EDT

06:12 AM EDT, 08/20/2025 (MT Newswires) -- Societe Generale in its early Wednesday economic news summary pointed out:

-- Risk off on Tech retracement , JPY/G10 bid, yields steady. United States Treasury Secretary Bessent: stablecoins, digital tokens backed by high-quality securities such as U.S. Treasuries to become an important source of demand for U.S. government bonds (FT).

-- United Kingdom consumer price index accelerates to 3.8% year over year in July, above forecast. Bank of England projects peak of 4% in September. Core up to 3.8%, services climb to 5.0%, goods firm to 2.7%.

-- Sweden's Riksbank keeps policy rate on hold at 2.0%, still sees some probability of a further interest rate cut this year.

-- The Reserve Bank of New Zealand (RBNZ) lowers OCR by 25bps to 3.0%, new forecast indicates two additional cuts by March 2026. Statement: scope for further easing if medium-term inflation pressures continue to ease as expected. NZD/USD -1.2% at 0.5821. 10-year NZGB yield -10bps at 4.39%.

-- Day ahead: FOMC minutes, UST 20-year auction. Eurozone final CPI, Germany sells 2046 and 2054 bonds. Speakers include European Central Bank President Lagarde and Federal Reserve's Waller.

-- Nikkei -1.5%, EUR 10-year IRS unchanged at 2.69%, Brent crude +0.9% at $66.4/barrel, Gold +0.2% at $3,323/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.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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