Commerzbank on Overnight News

06:31 AM EDT, 04/24/2026 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasury yields spike on Strait of Hormuz fears, then partially recover, continue to bear flatten in Asia. Equities recover into the New York close, futures lose momentum in Asia. Brent rangebound near US$106/barrel, the US dollar (USD) strengthens.

U.S. Banks: The Federal Reserve and FDIC finalized changes to relax the leverage ratio for community banks.

G20: President Donald Trump wants to invite Russian President Vladimir Putin to the Miami summit in December (Washington Post).

Middle East: Israel and Lebanon extend ceasefire by three weeks. The U.S. military is developing plans to target Iran's Hormuz defenses if U.S./Iran-ceasefire falls apart (CNN). President Trump says he wouldn't use nuclear weapons against Iran.

==EUROPE:

ECB: A Bloomberg survey sees a European Central Bank rate hike once in June, a reverse move by September 2027. ECB Governing Council member Joachim Nagel says President Trump's attacks on the Federal Reserve are causing flight from U.S. assets and USD.

EU: First 45 billion euros tranche to Ukraine to start being disbursed by the end of May. Italian Prime Minister Giorgia Meloni says EU energy proposals aren't enough. Poland's PM Donald Tusk questions whether the U.S. is "loyal" to Europe's defense under NATO, says EU should bolster mutual defense clause (FT exclusive).

Italy anticipates disposals of state assets could total 0.8% of gross domestic product (19 billion euros) through 2028.

Greece: Public debt to fall to 137% in 2026 (2025 at 145%), leaving Italy as the most indebted EU country.

==ASIA:

Japan: March consumer price index rises more than expected.

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