SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 03/03/26 05:51 AM EST

05:51 AM EST, 03/03/2026 (MT Newswires) -- Societe Generale in its early Tuesday economic news summary pointed out:

-- Still risk off. Inflation fears on energy and shipping lane disruption lift bond yields, central banks repriced. United States says big wave of military strikes against Iran yet to come. Iran threatens full closure of Strait of Hormuz. Brent consolidates near $80/barrel, natural gas squeezes above EUR55/MWh after the halting of gas exports from Qatar's liquefied natural gas facility. EUR/USD breaks below 200dma (1.1669), support 1.1573 (January low). U.S. 10-year +5bps to 4.08%, Bund +6bps at 2.77%. Bank Indonesia intervenes to defend the rupiah (IDR).

-- Day ahead: Eurozone flash consumer price index. Germany's five-year auction. European Central Bank speakers: Kocher, Sleijpen. Federal Reserve speakers Williams, Kashkari. United Kingdom Budget Spring Statement. Czech and Brazil Q4 gross domestic product.

-- Nikkei -3.1%, EUR 10-year IRS +3.5bps at 2.768%, Brent crude +4.4% at $81.1/barrel, Gold +0.3% at $5,323/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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