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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 05:58 AM EDT

05:58 AM EDT, 05/15/2026 (MT Newswires) -- Societe Generale in its early Friday economic news summary pointed out:

-- Risk off as United States Treasury yields accelerate, OIS pricing 80% chance of Federal Reserve rate hike by December. Two-year UST up to 4.06%, 10-year to 4.53% (+18bps this week). US dollar (USD) set for best week in two months, high beta retraces with stocks including Scandinavian, Australian dollar (AUD), Hungary's forint (HUF), South Africa's rand (ZAR), Mexico's peso (MXN). EUR/USD tumbles below 50/200dma. Brent +6.1% this week, natural gas +8.6%.

-- Federal Reserve's Williams: no need to raise or cut rates now, policy in a good place. Barr: lowering liquidity rules to shrink balance sheet would have perverse effects/threaten financial stability, inflation is an overwhelming risk, economy booming.

-- Day ahead: U.S. industrial production. European Central Bank's Vujcic and Dolenc. ECB economic bulletin. Romania's central bank to stay on hold at 6.50%.

-- Nikkei -2.3%, EUR 10-year IRS +5bps at 3.12%, Brent crude +1.6% US$107.5/barrel, Gold -2.3% at US$4,570/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.

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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