EIA: Despite a larger-than-expected draw in US distillate inventories, ULSD futures remained steady.

UniCredit is studying a transaction to hedge €1bn of German residential mortgage risk as it prepares to expand in Germany. The Milan-based bank expects to obtain control of a German commercial bank in coming months and is gauging investor interest in an unfunded credit-protection deal. German house prices have recovered since end-2024 but the rebound has slowed in recent quarters; rising rates and tighter mortgage lending by banks leave the sector outlook uncertain.

BANK OF JAPAN policy board member Koeda said the basic stance on the neutral rate is that it must be considered as a range.