Commerzbank Says Treasuries Trade in Narrow Range, US Equity Futures Little Changed as Oil Prices Rise

06:27 AM EDT, 10/23/2026 (MT Newswires) -- Treasuries traded subdued across Asia on Friday, US equity futures were broadly unchanged, while oil prices advanced and the US dollar saw mixed movements, according to Commerzbank Research in a note. US President Donald Trump invoked the Defense Production Act to boost domestic oil production capacity, wrote Commerzbank in the note. President Trump signaled that the US could take further action against Iran, saying Washington might go "a little bit further," added the bank. Bloomberg reports that OpenAI has lowered its valuation target for its latest fundraising round to $1.25 trillion, down from the previously planned $1.4 trillion, citing people familiar with the matter. European Central Bank Executive Board member Fabio Panetta cautioned that elevated interest rates are dampening economic growth. A Bloomberg survey shows that around 70% of economists expect the ECB to refrain from reacting to recent developments, with any response likely to be limited to verbal signals. Meanwhile, 94% see little chance of the ECB deploying its Transmission Protection Instrument (TPI) over the next 12 months. Most economists expect interest rates to remain on hold until the second quarter of 2028, after a rate increase this December. Total orders for Italian government bonds reached 14.9 billion euros after four days, broadly in line with the average demand seen in previous offerings, said Commerzbank. Britain's GfK consumer confidence index posted its steepest monthly drop since the COVID-19 pandemic in October. Japan's headline and core inflation rose as expected, added the bank. The manufacturing PMI fell, while the services PMI strengthened.