Commerzbank on Overnight News

06:43 AM EST, 01/09/2026 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasury yields rise in Asia after zigzagging into New York close. E-minis flat after U.S. equities recover in late trading, Nikkei leads Asian equities. US dollar (USD) rangebound, oil consolidates in Asia after Thursday's rally.

Fed: Treasury Secretary Scott Bessent says President Donald Trump may decide on the Federal Reserve's new chair right before or after Davos (Jan. 19-23), argues most models suggest 2.5% to 3.25% for Fed Funds rate. Trump said he has made up his mind on Fed pick.

U.S.: December NY Fed consumer expectation survey shows 0.22pp increase in one-year inflation expectations to 3.42%; perceived probability of finding a new job falls 4.2pp to a series low of 43.1%.

U.S.: President Trump says he will direct Fannie Mae and Freddie Mac to buy $200 billion in mortgage-based securities (MBS) to bring down mortgage rates.

South America: U.S. energy secretary says the U.S. is "not going to cut off China" from Venezuelan oil. Senate advances legislation against further military action in Venezuela as five Republicans vote with Democrats.

Greenland: Vice President JD Vance says European leaders need to take the security of Greenland more seriously or "the US is going to have to do something about it." British Prime Minister Keir Starmer and Trump discussed Euro-Atlantic security in a call, agreeing on "the need to deter an increasingly aggressive Russia in the High North."

Oil: President Trump will meet top U.S. oil executives on Friday to discuss reviving Venezuelan oil production. Independent U.S. shale producers warn initiative is "against American producers" (FT).

==EUROPE:

ECB: Former Bank of Portugal Governor Mario Centeno says he is "available to run" for the role of European Central Bank vice president.

U.K. The United Kingdom is to exclude financial services from the push for closer European Union alignment (FT).

Trade: President Emmanuel Macron tweets France will vote against Mercosur deal, as it is "an agreement from another age," would expose "sensitive and essential agricultural sectors."

==ASIA:

China: The consumer price index rose to 0.1pp to 0.8% year over year in December, as expected.

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