Financial Wire

SocGen's Overnight Economic News Summary

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

-- Brent crude fell, the VIX was up 1.3% at 18.2, with U.S./Iran talks to resume this weekend. President Trump said: It's looking very good that we're going to make a deal with Iran, and it's going to be a good deal. They've agreed to almost everything. They have to get to the table with a pen. Meanwhile, Israel and Lebanon agreed on a 10-day truce.

--U.S. Treasury custody holdings fell for a seventh week in the last eight, down US$106 billion since the end of February. Former U.S. Treasury Secretary Paulson said: The U.S. must prepare an emergency plan to avert a likely eventual "vicious" collapse in demand for USTs amid long-running concerns over the federal debt load.

-- Bank of Japan call change: next 25bps increase postponed to June, or July depending on the Iran war, followed by October or December.

-- Day ahead: Federal Reserve speakers Daly, Barkin, Waller. Bank of England's Breeden and Pill. Eurozone trade balance.

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