SocGen's Overnight Economic News Summary

BY MT Newswires | TREASURY | 09/25/25 05:50 AM EDT

05:50 AM EDT, 09/25/2025 (MT Newswires) -- Societe Generale in its early Thursday economic news summary pointed out:

-- The US dollar (USD) tracks higher United States Treasury yields, 2s back up to 3.60%, break opens 3.70%. 10s up to 4.147%. U.S: Treasury Secretary Bessent: to complete the first round of interviews for the successor of Federal Reserve Chair Powell by the first week of October, surprised that the Fed hadn't sketched out a target for lowering rates by the end of the year by 100bps-150bps given recent downward revisions in jobs data.

-- Day ahead: Swiss central bank (SNB) stays on hold at 0%, Banxico forecast to cut 25bps. U.S. weekly jobless claims, durable goods orders, Q2 final gross domestic product, seven-year auction. Fed speakers Goolsbee, Williams, Schmid, Bowman, Barr, Logan, Daly. European Central Bank speaker Kazimir. United Kingdom Gilt auction.

-- Nikkei +0.2%, EUR 10-year IRS unchanged at 2.71%, Brent crude +0.3% at $69.1/barrel, Gold flat at $3,740/oz.

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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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