US: Biden: "I'm In This Race To The End And We're Going To Win"

Jul-03 18:12

Elena Schneider at Politico reporting on X that President Biden told campaign staff in a recently concluded call with Vice President Kamala Harris: "Let me say this as clearly as I possibly can as simply and straightforward as I can: I am running…no one’s pushing me out. I’m not leaving. I’m in this race to the end and we’re going to win.”

  • Joey Garrison at USA Today reports Harris said: “We will not back down. We will follow our President’s lead. We will fight, and we will win."
  • Adds Biden said: "There is no one I'd rather be in this battle with than all of you. So let's link arms. Let's get this done. You, me, the Vice President. Together."
  • White House Press Secretary Karine Jean-Pierre told reporters moments ago that Biden has recorded two radio interviews that will air in swing states Wisconsin and Pennsylvania tomorrow morning.
  • The New York Times/Siena College has just published highly-anticipated new polling data showing that, "A [post-debate] 3-point move toward Trump ... is not a fundamental change in the race, but it adds to longstanding concerns."
  • Nate Cohen at NYT notes: "...the poll doesn’t show that the debate completely upended public opinion about the candidates. Instead, the debate exacerbated Mr. Biden’s political liabilities, which had already imperiled his re-election chances."
  • Cohen notes, what is now a prevailing view amongst analysts: "While Mr. Biden sometimes performs better than he did last week, the long-term trend suggests that the accumulated effect of countless interviews, speeches, photographs and social media posts has left much of the public with the impression that he is no longer as well equipped to serve as president."

Historical bullets

EURGBP TECHS: Bearish Outlook

Jun-03 18:00
  • RES 4: 0.8645 High Apr 23 and the bull trigger
  • RES 3: 0.8602 1.0% High May 9 and 10-dma envelope
  • RES 2: 0.8553 50-day EMA
  • RES 1: 0.8541 High May 31
  • PRICE: 0.8515 @ 17:45 BST Jun 3
  • SUP 1: 0.8484 Low May 29
  • SUP 2: 0.8454 76.4% of the Mar 7 - Sep 26 ‘23 bull phase
  • SUP 3: 0.8408 Low Aug 24 2023
  • SUP 4: 0.8388 Low Aug 17 2022

EURGBP is in consolidation mode and remains above last week’s low of 0.8484 (May 29). Conditions are unchanged and a bear trend is still in play. Key supports have recently been pierced; the 0.8500 pivot level, and an important support zone between 0.8498, the Feb 14 low, and 0.8493, the Aug 23 ‘23 low. A clear breach of these price points would strengthen a bearish theme. Initial firm resistance to watch is 0.8541, Friday’s high.

PIPELINE: $2.5B National Australia Bank (NAB) 3Pt Debt Launched

Jun-03 17:51
  • Date $MM Issuer (Priced *, Launch #)
  • 6/3 $2.5B #National Australia Bank (NAB) $900M 3Y +47, $850M 3Y SOFR+62, $750M 10Y +78
  • 6/3 $1.5B #Royalty Pharma $500M 5Y +100, $500M 10Y +127, $500M 30Y +152
  • 6/3 $1.3B #Burlington Northern Sante Fe 30Y +98
  • 6/3 $800M #Hyatt $450M 5Y +95, $350M 10Y +125
  • 6/3 $800M #Baltimore Gas WNG $400M 10Y +93, $400M 30Y +110
  • 6/3 $750M #Regions Financial 6NC5 +130
  • 6/3 $600M #GATX $200M 10Y +130, $400M 30Y +150
  • 6/3 $600M #Southwestern Public Service 30Y +150
  • 6/3 $550M #NY Life 5Y +62.5 (SOFR leg dropped)
  • 6/3 $500M #BGC Group Inc 5Y +220
  • 6/3 $500M #Metlife 10Y +95
  • 6/3 $Benchmark Nomura 5Y SOFR+39a
  • 6/3 $Benchmark Brighthouse 2027 tap +100, 5Y +125

MNI: TEST, PLEASE IGNORE

Jun-03 17:38



  • TEST, PLEASE IGNORE