Commerzbank Says Treasuries Are Weaker as Brent Price Rises, US Equity Futures Stable
MT newswire2026/10/07 10:2806:28 AM EDT, 10/07/2026 (MT Newswires) -- Treasuries were broadly unchanged following the three-year Treasury auction before weakening in Asia early Wednesday, while Brent climbed to $102.60 a barrel, according to Commerzbank Research in a note. President Donald Trump reiterated that Iran is doing "very poorly" and said its drone-making capacity "will soon be gone," while oil continues to flow through the Strait of Hormuz, wrote Commerzbank in the note. Vice President JD Vance said the US is in talks with Iranian President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, Reuters reported. Kansas City Fed President Jeff Schmid said Artificial Intelligence has become one of the key drivers of inflation, stressing that the Fed's credibility is on the line and that policymakers still have "way to go" to tame price pressures, added the bank. President Trump said a strong US dollar means "no inflation" and that he is considering suspending the federal gasoline tax. The euro falls to $1.123, said Commerzbank while the US equity futures are little changed. In Europe, French Finance Minister Roland Lescure said he will do "whatever it takes" to pass a budget that caps the deficit at 5% while protecting growth, and did not rule out using Article 49.3 to bypass a parliamentary vote. The European Union is considering a broad levy on major US technology companies as it explores new tax measures, the FT reported. The Japanese government is considering a second supplementary budget, according to daily Yomiuri. Japanese government bond yields edged higher, while the yen weakened, according to the bank.
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