Treasury
SocGen's Overnight Economic News Summary
Societe Generale in its early Friday economic news summary pointed out:-- Risk off, Brent scales US$106/barrel. The United States military is developing new plans to target Iran's capabilities in the Strait of Hormuz in the event the ceasefire falls apart. Israel and Lebanon extend ceasefire by three weeks, U.S. blockade cited as key hurdle to progress on peace talks.-- Japan Finance Minister Katayama reiterates readiness for bold foreign exchange intervention, can take decisive, strong action against speculative activities based on agreement with the U.S. Japan to start second round of crude oil releases from national reserves from next Friday. The consumer price index rose to 1.5% year over year in March from 1.3% in February. Core up 1.8% year over year versus 1.6%, yet to reflect oil price surge.-- Day ahead: Germany Ifo business climate. European Central Bank speaker Panetta. United Kingdom Bank of England DMP inflation expectations.-- Nikkei +1.0%, EUR 10-year IRS +2bps at 3.06%, Brent crude +1.1% at US$106.2/barrel, Gold -1.1% at US$4681/oz.
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