07:05 AM EDT, 05/19/2026 (MT Newswires) -- Commerzbank in its "European Sunrise"note of Tuesday highlighted:

Markets: United States Treasuries and equities stay rangebound with Brent hovering just below US$110/barrel. Japanese government bonds give up initial gains, 30-year yields up 5bps. The dollar (USD) stabilizes.

Fed: Kevin Warsh to be sworn in as Federal Reserve chair on Friday. Chicago Federal Reserve Bank President Austan Goolsbee says inflation is too high, jobs market stable.

U.S. eases Russian oil sanctions for 30 days.

USTs: Japan is mindful of risk from selling U.S. Treasuries as part of foreign exchange interventions, a finance ministry official says. Foreign holdings in USTs fell $138 billion in March, with Chinese holdings falling to their lowest since 2008.

Iran war: President Donald Trump says he put off a military strike planned for Tuesday "for a little while, hopefully maybe forever,"following a request from Gulf allies. A U.S. official denies an Iranian media report that the U.S. proposed to temporarily lift sanctions. Trump tells NYP he is "not open to anything right now."

Russia-Ukraine war: Chinese President Xi Jinping told President Trump that Russian President Vladimir Putin might end up regretting the invasion of Ukraine (FT).

==EUROPE:

U.K.: Greater Manchester Mayor Andy Burnham rejects changes to fiscal rules, including exempting defense spending (spokesperson).

The European Union will cut growth outlook, raise inflation forecast in Thursday's forecasts (Euroepan Commissioner Valdis Dombrovskis).

EU ties payouts of 90 billion euros in Ukraine aid to unpopular tax change (Bloomberg).