US: 74% Of Americans Support Extending Obamacare Tax Credits
A new KFF Health Tracking Poll has found, “As the government shutdown continues, public support remains high for extending the enhanced ACA tax credits set to expire at the end of the year, with three quarters (74%) of the public in favor of extending them.”
- The report notes, “The new poll finds little change in the public’s views on extending the tax credits since before the shutdown began, though support among Republicans dipped (from 59% in September to 50% now). Among those who identify as supporters of President Trump’s “Make America Great Again” movement, support fell from 57% in September to 44% now.”
- The report continues: “When asked about Congressional Democrats’ strategy of refusing to approve a budget unless it includes extending these tax credits, even if it means the government remains shut down, partisans firmly align with their party’s position.”
Figure 1: Percent who say Congress should extend the enhanced premium tax credits, rather than let them expire
Source: KFF Health Tracking Polls
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USDJPY TECHS: Pierces Key Resistance
- RES 4: 152.31 High Feb 19
- RES 3: 151.78 2.0% 10-dma envelope
- RES 2: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
- RES 1: 151.21 High Mar 28 & Oct 07
- PRICE: 151.17 @ 16:39 BST Oct 7
- SUP 1: 149.05 Low Oct 6
- SUP 2: 148.10/147.67 20- and 50-day EMA values
- SUP 3: 146.59 Trendline support drawn from the Apr 22 low
- SUP 4: 145.49 Low Sept 17
A bullish theme remains intact in USDJPY following Monday's strong start to the week. The move higher has resulted in a breach of resistance at 149.96, the Sep 26 high and a key short-term resistance. This has exposed the key medium-term resistance at 150.92, the Aug 1 high. It has been pierced, a clear break of it would confirm a resumption of the bull leg that started Apr 22. Monday’s intraday low at 149.05 is first support.
EURGBP TECHS: Monitoring Support At The 50-day EMA
- RES 4: 0.8835 High May 3 2023
- RES 3: 0.8800 Round number resistance
- RES 2: 0.8769 High Jul 28 and the bull trigger
- RES 1: 0.8751 High Sep 25
- PRICE: 0.8685 @ 16:38 BST Oct 7
- SUP 1: 0.8673/8597 50-day EMA / Low Aug 14 and the bear trigger
- SUP 2: 0.8633 Low Sep 15
- SUP 3: 0.8562 50.0% retracement May 29 - Jul 28 upleg
- SUP 4: 0.8540 Low Jun 30
Short-term weakness in EURGBP appears corrective and the trend condition is bullish. The cross traded lower on Monday. Initial firm support to watch lies at 0.8673, the 50-day EMA. A clear break of this level would signal scope for a deeper retracement. Note that the key trend support lies at 0.8597, the Aug 14 low. A breach of this level would instead reinstate a bearish threat. For bulls, key resistance and the bull trigger is 0.8769, the Jul 28 high.
PIPELINE: Corporate Bond Update: $1.15B TD Synnex 2Pt Launched
$7.85B total to price Tuesday:
- Date $MM Issuer (Priced *, Launch #)
- 10/07 $2.5B *Bank of England 5Y +8a
- 10/07 $1.75B *CPPIB 3Y SOFR+39
- 10/07 $1.75B #Angola $1B +5Y 9.25%, $750M 10Y 10.125%
- 10/07 $1.15B #TD Synnex $550M +3Y +75, $600M 10Y +118
- 10/07 $700M *Türkiye Garanti Bankası 10.5NC5.5 7.625%
