-- Societe Generale in its early Tuesday economic news ummary pointed out:
-- Brent rallies to US$111/barrel, President Trump unlikely to accept Iran's proposal to end Iran conflict after meeting with national security officials. Ongoing negotiations centered around a staged process: the first part of a potential deal would focus on returning to the status quo and reopening the Strait of Hormuz without restrictions or tolls.
-- Bank of Japan on hold at 0.75%, hawkish dissent. Nakagawa, Takata and Tamura voted for a 25bps rate hike. The consumer price index forecast raised to 2.8% from 1.9% for FY26 and 2.3% from 2.0% for FY27, core 2.6% for both years from 2.2% (FY26) and 2.6% (FY27). The gross domestic product forecast lowered to 0.5% from 1.0% for FY26. Assumption oil prices drop to US$70-US$80/barrel at the end of the projection period.
-- Day ahead: United States consumer confidence, seven-year U.S. Treasury auction. European Central Bank CPI expectations. Hungary's and Chile's central banks forecast to stay on hold.
-- Nikkei -1.0%, EUR 10-year IRS +2bps at 3.085%, Brent crude +2.1% at US$110.4/barrel, Gold -1.1% at US$4,625/oz.