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SocGen's Overnight Economic News Summary

BY MT Newswires | TREASURY | 05:54 AM EDT

05:54 AM EDT, 06/01/2026 (MT Newswires) -- Societe Generale in its early Monday economic news summary pointed out:

-- Brent +2.5% to US$93.5/barrel, 10-year United States Treasury yield +3bps at 4.47%, Germany's Bund +3bps at 2.97%. U.S.-Iran exchanged messages seeking changes to the draft agreement, including a ceasefire extension and reopening the Strait of Hormuz. European Central Bank three-year inflation expectations dip to 2.9% in April from 3.0% in March.

-- China's official manufacturing PMI drops to 50.0 in May from 50.3 in April; non-manufacturing in the expansion zone at 50.1 versus 49.4 previously.

-- South Korea's trade surplus widens to US$26.9 billion in May from US$23.8 billion in April, exports surge 53.2% year over year (chips driven). Kospi hits record 8,476 despite persistent FPI outflows, won (KRW) weakens to 1,517/USD, strengthening the case for July Bank of Korea rate hike.

-- CFTC positioning: Euro (EUR) net longs trimmed to 3.6% of OI, yen (JPY) shorts raised to 26.8%, sterling (GBP) shorts cut to 21.8%, Australian dollar (AUD) longs reduced to 19.9%, Canadian dollar (CAD or loonie) longs jumped to 23.1%, Mexican peso (MXN) longs declined to 28.9%, Nymex longs trimmed to 8.0%, lowest since Feb. 17.

-- Week ahead: U.S. NFP, ISM. Eurozone flash consumer price index, Q1 gross domestic product second read, retail sales. Poland's and India's central banks are forecast to stay on hold. CPI for Switzerland, Sweden, South Korea, Turkey, and the Czech Republic.

-- Nikkei +1.1%, EUR 10-year IRS +3.5bps at 3.01%, Brent crude +2.5% at US$93.5/barrel, Gold -0.6% at US$4,512/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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