SocGen's Overnight Economic News Summary

06:04 AM EDT, 05/29/2026 (MT Newswires) -- Societe Generale in its early Friday economic news summary pointed out:

-- Brent tumbles to a six-week low of US$92.4/barrel, off 27% from April peak, support US$91/US$90/US$86/barrel. Bond yields off lows for United States Treasuries, Bunds and Gilts after bearish outside day on Thursday (bullish prices). U.S. Vice President Vance: not there yet but getting very close on U.S./Iran Memorandum of Understanding, 60-day truce, negotiations on nuclear program (FT).

-- Japan: Tokyo May consumer price index slows to 1.4% year over year, below forecast. Core dips to 1.3% year over year, core- core, which excludes energy, fresh food, cools to 1.6%.

-- France HICP up to 2.8% year over year in May from 2.5% in April, below forecast. Services up to 2.0% year over year, fresh food 4.1%, energy 16.8%, manufacturing goods unchanged at -0.6%. Q1 gross domestic product was revised down to -0.1% quarter over quarter. Spain HICP accelerates to 3.6% year over year from 3.5%, core up to 2.9% year over year.

-- Day ahead: Germany HICP. Federal Reserve speakers Schmid, Bowman, Paulson, Daly. European Central Bank's Panetta, Radev, Muller. Bank of England speaker Bailey. Itay and Poland CPI.

-- Nikkei +1.9%, EUR 10-year IRS unchanged at 2.99%, Brent crude -1.3% at US$92.4/barrel, Gold +0.1% at US$4,512/oz.

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