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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 04/29/26 05:53 AM EDT

05:53 AM EDT, 04/29/2026 (MT Newswires) -- Societe Generale in its early Wednesday economic news summary pointed out:

-- Brent up to US$112.5/barrel. United States President Trump: prepare for an extended naval blockade of the Strait of Hormuz to intensify economic pressure on Iran (WSJ). Iran may submit a revised proposal to end the war in the next few days.

-- Australia March consumer price index accelerates to 4.6% year over year from 3.7% in February, below forecast. Core unchanged at 3.3%. Three-year ACGB -4bps at 4.68%, AUD/USD -0.4% at 0.7155. OIS implied odds of a May Reserve Bank of Australia hike steady at 17bps.

-- Spain's CPI slows to 3.2% year over year in March, consensus was for a rise to 3.5%. Core dips to 2.8% year over year from 2.9%. HICP edges up to 3.5%.

-- Day ahead: Federal Reserve FOMC forecast to stay on hold at 3.50%-3.75%. Bank of Canada to stay on hold at 2.25%. U.S. durable goods orders. Germany CPI. Brazil's central bank forecast to stay on hold at 14.75% (consensus has a 25bps cut). Italy and Germany benchmark auctions.

-- Nikkei closed, EUR 10-year IRS +1bp at 3.11%, Brent crude +1.1% at US$112.5/barrel, Gold -0.5% at US$4,569/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.

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