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SocGen's Overnight Economic News Summary

BY MT Newswires | TREASURY | 09/15/25 05:45 AM EDT

05:45 AM EDT, 09/15/2025 (MT Newswires) -- Societe Generale in its early Monday economic news summary pointed out:

-- US dollar (USD) and United States Treasury yields rangebound before Federal Reserve meeting this week. U.S./China discussions resume in Madrid following weekend talks covering TikTok, trade and economy. OpenAI and Nvidia executives join President Trump on a United Kingdom visit Wednesday-Friday, to unveil Stargate U.K.

-- France: 10-year OAT/Bund +2bps at 81.5bp after Fitch downgrades rating to A+ from AA-, outlook stable. Political instability makes it unlikely that the headline deficit will be reduced to 3% of gross domestic product by 2029. Review assumes upcoming budget negotiations will produce a more diluted fiscal consolidation package than that proposed by the outgoing administration. Debt to increase to 121% in 2027 from 113.2% in 2024 without a clear horizon for stabilization in subsequent years.

-- China August data weak: retail sales slow to 3.4% year over year, industrial output moderates to 5.2%, property investment -12.9% year over year.

--Week ahead: FOMC to cut rates on Wednesday, Bank of Canada and Norway's Norges Bank rate cut in the balance. Bank of Japan, Bank of England to stand pat. U.S. retail sales, industrial production, Germany ZEW, U.K. wages and consumer price index. Brazil and South Africa central banks forecast to keep rates on hold.

-- Nikkei closed, Hang Seng -0.1%, EUR 10-year IRS -1bp at 2.655%, Brent crude +0.7% at $67.4/barrel, Gold flat at $3642/oz.

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

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