Financial Wire

SocGen's Overnight Economic News Summary

-- Societe Generale in its early Wednesday economic news summary pointed out:

-- Brent consolidates around US$95/barrel, bond yields steady near weekly lows after "benign" United States producer price index. Bund curve bull steeper after European Central Bank President Lagarde comments on Tuesday at the International Monetary Fund.

-- ECB President Lagarde: eurozone economy between baseline and adverse scenario, not severe. On energy: the eurozone is less affected by the impact of a war today compared with 2022. On monetary policy: we must be agile and ready to move in the direction required, data dependent, not rate path that I can confirm today, don't know honestly.

-- Day ahead: U.S. import and export prices. Federal Reserve Beige Book, speakers Barr, Bowman. ECB's Lagarde, Schnabel, Villeroy, Escriva and Cipollone. Bank of England's Bailey. Swiss SNB's Schlegel.

-- Nikkei +0.4%, EUR 10-year IRS -2bps at 3.03%, Brent crude -0.2% at US$94.6/barrel, Gold +0.1% at US$4,816/oz.

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