Commerzbank on Overnight News
Commerzbank in its "European Sunrise" note of Friday highlighted:Markets: United States Treasuries partly reverse earlier gains in the late New York session, slightly weaker in Asia. E-minis maintain Thursday's gains. The euro (EUR) unchanged at $1.169. Brent trends sideways around $96.3/barrel.Fed: Senate Banking Committee delays Kevin Warsh's Federal Reserve chair confirmation hearing. White House National Economic Adviser Kevin Hassett says he was confident Warsh would start as Fed chair in May.Middle East: President Donald Trump is "very optimistic" about a peace deal with Iran (NBC interview), but threatens Iran for charging fees in the Strait of Hormuz, warning "they better stop now." Israel agrees to direct talks with Lebanon; talks to begin next week (Axios). Israeli Prime Minister Benjamin Netanyahu says strikes on Hezbollah targets will continue.NATO: President Trump renews threat to take control of Greenland. He pressures allies to increase support in securing the Strait of Hormuz.==EUROPE:EU: Talks with the United Kingdom continue to let Ukraine buy British arms via the currently stalled 90 billion European Union loan (Bloomberg sources).Hungary: President Trump says "get out and vote for Victor Orban" in the upcoming parliamentary election.BoE: Bank of England Governor Andrew Bailey warns that stress in the $3 trillion private credit market, coupled with the ongoing energy price shock, could trigger broader financial instability.==ASIA:China: The consumer price index rose 1.0% year over year in March, while the consensus was 1.1%. The producer price index up 0.5% year over year versus the consensus 0.4%.BoJ governor warns of stagflation risk from Iran war.