US: GOP Moderate Signs Dem Petition As Healthcare Battle Dominates Congress

Dec-17 14:31

Rep. Brian Fitzpatrick (R-PA) has signed a discharge petition put forward by House Minority Leader Hakeem Jeffries (D-NY) that seeks to extend Affordable Care Act (ACA, 'Obamacare') tax credit subsidies for another three years. Fitzpatrick's signature, the first among Republicans, gives the petition the backing of 215 representatives, three votes short of the 218 required to circumvent Speaker Mike Johnson (R-LA) and put the measure to a vote on the House floor. 

  • Fitzpatrick, whose 1st congressional district is seen as a bellwether district in a bellwether state, said in a statement that GOP moderates had made 'good faith' efforts with both parties to reach a deal on the expiring credits. After the House Rules Committee, under the effective control of Johnson, rejected three amendments from moderates on 16 Dec, Fitpatrick said, "the only policy that is worse than a clean three-year extension without any reforms, is a policy of complete expiration without any bridge. Unfortunately, it is House leadership themselves that have forced this outcome."
  • The House is currently debating the rule on the GOP Healthcare bill, approved by the leadership and not containing any ACA extensions, before a vote. If this vote succeeds, a full floor vote takes place later on this afternoon.
  • With the Obamacare subsidies expiring at year's end, pushing up premiums for millions, the political ramifications of the internal Republican battle over healthcare look set to dominate the early part of 2026, alongside the looming federal gov't funding cliff at end-Jan. 

Historical bullets

US TSY FUTURES: December'25-March'26 Roll Update

Nov-17 14:28

Latest Tsy quarterly futures roll volumes from December'25 to March'26 outlined below. Modest volumes with percentage complete currently in the single digits. "First Notice" date Friday, November 28. Current roll details:

  • TUZ5/TUH6 appr 8,000 from -5.5 to -5.25, -5.5 last; 1% complete
  • FVZ5/FVH6 appr 38,900 from -2.5 to -2.25, -2.25 last; 4% complete
  • TYZ5/TYH6 appr 97,300 from -1.75 to 2.0, 1.75 last; 5% complete
  • UXYZ5/UXYH6 under 200 from 5.25 to 5.5, 5.5 last; 1% complete
  • USZ5/USH6 appr 17,600 from 10.5 to 12.5, 11.75 last; 2% complete
  • WNZ5/WNH6 appr 2,700 from 10.0 to 10.25, 10.25 last; 1% complete
  • Reminder, Dec'25 futures don't expire until next month: 10s, 30s and Ultras on December 19, 2s and 5s on December 31. Meanwhile, Dec'25 Tsy options will expire this Friday, November 21

EQUITIES: US Cash Opening Calls

Nov-17 14:26

SPX: 6,725.8 (-0.1%); DJIA: 47,093 (-0.1%/-54pts); NDX: 24,972.5 (-0.1%).

SONIA OPTIONS: Call Condor buyer

Nov-17 14:20

SFIH6 96.40/96.50/96.60/96.70c condor, bought for 3.25 in 3k.