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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 09/26/25 05:45 AM EDT

05:45 AM EDT, 09/26/2025 (MT Newswires) -- Societe Generale in its early Friday economic news summary pointed out:

-- The US dollar (USD) consolidates overnight gains, two-year United States Treasury backs up to 3.65% after strong durable goods (+0.4% excluding transport), weekly jobless claims drop to 218,000, Q2 gross domestic product revised up to 3.8% quarter-over-quarter seasonally adjusted annual rate, personal consumption upgraded to 2.5%. UST seven-year auction underwhelms -- tails 0.5bp, non-dealer bidding 88.0%. December 2025 FOMC slips below -40bps, fewer than two cuts.

-- U.S. President Trump announces fresh round of tariffs: plans 100% duty on branded pharmaceuticals effective next Wednesday. Industry-focused tariffs include heavy trucks (25%), upholstered furniture (30%) and kitchen cabinets/bathroom vanities (50%).

-- Day ahead: U.S. PCE, SocGen forecast 0.3% month over month. Federal Reserve's Barkin and Bowman. ECB one- and three-year consumer price index expectations, speakers: Cipollone and Escriva. Italy benchmark auction.

-- Nikkei -0.3%, EUR 10-year IRS unch at 2.73%, Brent crude +0.2% at $69.5/barrel, Gold -0.2% at $3,744/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.

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