SWITZERLAND: Presser @ 15:30CET After Cabinet Meets To Discuss US Tariffs

"Several dozen German corporations are apparently planning to launch a historic investment offensive and invest several hundred billion euros in Germany as a business location – including in new plants, the modernisation of facilities and the development of new products", Handelsblatt reports, quoting sources. Reuters ran a matching story.

• "Sources within the alliance have indicated that the corporate representatives want their investment commitment to be seen as a vote of confidence in the federal government – coupled with the expectation that it will implement the promised economic reforms"
• On balance, weak private investment arguably was the most worrying part of stagnating GDP in Germany in recent quarters. Gross fixed private capital formation in Germany was around E900bln in the four quarters to Q125 - so an initiative of "several hundred billions" should be a considerable amount - at least if being additional. The initiative comes amid the context of the German government's investment spending increases and promised bureaucracy reductions / structural reforms.

FRBNY EFFR for prior session:

• Daily Effective Fed Funds Rate: 4.33% (+0.00), volume: $118B
• Daily Overnight Bank Funding Rate: 4.33% (+0.00), volume: $263B

You are invited to listen to a Livestreamed MNI Connect Video Conference with the San Francisco Fed President Mary Daly.

Details below:

• Mary Daly joins us to discuss the ‘The US Economic Outlook and Challenges for Policymakers'
• DATE: Thursday, 10 July 2025
• TIME: 2:30 pm - 4 pm ET; 11:30am - 1pm PT; 7:30pm - 9pm London
• This event will be run as a Zoom Webinar and is a public, on-the-record event.

To register please go to: MNI Webcast Registration