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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 09/08/25 05:52 AM EDT

05:52 AM EDT, 09/08/2025 (MT Newswires) -- Societe Generale in its early Monday economic news summary pointed out:

-- US dollar (USD) and United States Treasury yields steady after nonfarm payrolls (NFP) led losses on Friday, rise in unemployment rate to 4.3% raises odds of a 50bps cut at the FOMC meeting next week. The two-year UST +2bps at 3.52%, 10-year UST +2bps at 4.09% after erasing a succession of supports.

-- Japan: LDP party to set leadership election date on Tuesday after PM Ishiba resigned on Sunday. USD/JPY near 200dma (148.80).

-- Week ahead: France's government motion of no-confidence on Monday at 3 p.m. CET. European Central Bank forecast to stand pat on Thursday. U.S. producer price index on Tuesday and consumer price index on Wednesday. United Kingdom July gross domestic product on Friday. Chile's central bank (BCCh) forecast to stay on hold on Tuesday, Turkey's central bank 8CBT) forecast to cut 200bps to 41% on Thursday. CPI for Norway, China, Brazil, Mexico, India, Chile, Romania.

-- China's trade surplus widened to $102.3 billion in August from $98.24 billion. Exports slow to 4.4% year over year from 7.2% as frontloading eases.

-- CFTC currency positioning: Euro (EUR) net longs trimmed to 14.1%, yen (JPY) longs cut to 17.7%, sterling (GBP) shorts increased to 14.6%, Australian dollar (AUD) shorts reduced to 44.7%, Canadian dollar (CAD or loonir) shorts raised to 48.4%, Swiss franc (CHF) shorts cut to 32.0%, Mexican peso (MXN) longs trimmed to 40.7%, South African rand (ZAR) longs cut to 45.6%.

-- Nikkei +1.4%, EUR 10-year IRS unchanged at 2.63%, Brent crude +1.8% at $66.7/barrel, Gold +0.2% at $3,595/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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