US 10-Year Treasury Yield Slips 1.4 Basis Points to 4.48%, 1-Year Rate Little Changed at 3.82% Early Thursday

US Treasury Yields Mixed Pre-Bell as Investors Await Jobless Claims, Challenger Job Cuts Amid Stalled Peace Talks With Iran

SocGen's Overnight Economic News Summary

Societe Generale in its early Thursday economic news summary pointed out:Brent softer after Israel/Lebanon ceasefire contingent on a cessation of Hezbollah fighting and the removal of Hezbollah operatives from southern Lebanon. The United States House voted 215-208 to halt the Iran war, breaking with President Trump amid dissent.Fed's Logan (voter): I am increasingly concerned that higher interest rates could be necessary later this year to fully restore price stability and appropriately balance both sides of the Fed's dual mandate.Switzerland's consumer price index unchanged at 0.6% year over year in May, in line with SNB Q2 forecast. Core steady at 0.3% year over year, services 1.1%, goods -0.2%.Sweden's CPI rose to 0.8% year over year in May from -0.1% in April, headline CPIF picked up to 1.5% from 0.8% (Riksbank forecast 1.57%) and excluding energy firmed to 0.5% year over year from 0.0%.Day ahead: U.S. weekly jobless claims, Challenger job cuts. Fed speakers Barkin and Daly. European Central Bank's Lagarde (pre-rate decision quiet period). Eurozone retail sales. Bank of England's Bailey. France benchmark auction. Czech Republic's CPI.Nikkei -1.6%, EUR 10-year IRS -1.5bps at 3.055%, Brent crude -0.9% at US$96.9/barrel, Gold +0.7% at US$4,466/oz.

Canada To Extend Steel and Aluminum Tariff Measures For 1 Year, Canada's CBC TV Reporting

Canada is to extend steel and aluminum tariff measures for one year, CBC TV is reporting Wednesday, citing comments from Minister of Finance Francois-Philippe Champagne, who said Canadian workers need to be protected from global excess capacity.The move is subject to cabinet approval."Subject to approval by the Governor in Council, Canada will extend its steel tariff-rate quotas (TRQ) regime for imports from non-CUSMA partners, and the existing horizontal tariff relief for eligible steel and aluminum products from the United States and additionally, for eligible steel products subject to derivate tariffs. These measures would be extended to June 27 and June 30, 2027, respectively."