Commerzbank on Overnight News
BY MT Newswires | TREASURY | 06:42 AM EDT06:42 AM EDT, 05/28/2026 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:
Markets: United States Treasury yields open higher in Asia, continue to increase with the 10-year back above 4.5%. Brent surges to US$98/barrel after U.S. strikes on Iran. Asian equity indexes and U.S. futures are down. The euro (EUR) drops below US$1.159.
Fed: Federal Reserve Governor Lisa Cook is prepared to raise rates if inflation doesn't ease as expected. Minneapolis Federal Reserve President Neel Kashkari says inflation fight takes priority and unanchored expectations could require stronger policy action. Federal Reserve Vice Chair Philip Jefferson warns of inflation from energy price increases.
U.S.: Treasury Secretary Bessent believes prices are "transitory;" expects oil to be lower than pre-conflict levels when it ends.
Iran war: U.S. carries out strikes against Iranian military site. President Donald Trump says "we're not satisfied with Iran deal," warning that if negotiations fail U.S. may "finish the job."
==EUROPE:
ECB: European Central Bank Governing Council member Philip Lane warns that inflation could remain elevated even after Iran conflict ends.
EU broadens import quotas and tariffs against China. Plans a strategy to reduce reliance on U.S. tech companies.
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