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SocGen's Overnight Economic News Summary

BY MT Newswires | ECONOMIC | 06/12/26 05:54 AM EDT

05:54 AM EDT, 06/12/2026 (MT Newswires) -- Societe Generale in its early Friday economic news summary pointed out:

-- Brent down 2% at US$88.5/barrel after President Trump cancels planned strikes on Iran, signals potential deal as soon as the weekend. Iran pushes back, says no final agreement yet and cites new United States demands and shifting positions. South Korea's Kospi (+8.0%) leads Asia risk rally. 10-year U.S. Treasury yield steady at 4.46% after falling 9bps on Thursday.

-- The United Kingdom's April gross domestic product contracts 0.1% month over month, grows 0.7% three-month/over/three-month in line. Services down 0.2% month over month, manufacturing grows 0.4%, construction 0.1%. April trade deficit narrows less than expected to 8.43 billion pounds from 9.65 billion pounds, exports +1.1%, imports -0.4%.

-- Day ahead: European Central Bank speakers Kocher, Nagel, Rehn. Preliminary University of Michigan sentiment. The consumer price index for Brazil and India.

-- Nikkei +3.8%, EUR 10-year IRS -6bps at 3.02%, Gold down 0.7% at US$4,180/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.

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