US: Government Shutdown Yet To Weigh On Trump's Approval Rating
Oct-09 17:29
Silver Bulletin notes that the government shutdown has been “a relatively low-key affair so far,” from a polling perspective.
- Eli McKown-Dawson at Silver Bulletin writes, “On the approval side of things, it’s still a bit too early to tell whether the shutdown has impacted Trump’s popularity. As of today, 43.4 percent of Americans approve of Trump and 52.6 percent disapprove. On one hand, a net approval rating of -9.3 isn’t exactly surprising. Trump has fluctuated between -8.9 and -10.3 for the past two weeks. But on the other hand, Trump is less popular than he was between late July and early September. His net approval rating in that period hovered between -7 and -9.”
- McKown-Dawson notes. “According to the polls, Americans are more likely to blame Donald Trump and Republicans for the shutdown than they are to blame Democrats. But Democrats probably shouldn’t bank on those results as part of a long-term shutdown strategy.”
Figure 1: President Donald Trump Net Approval Rating
Source: Silver Bulletin
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
ECB: MNI ECB Preview: Growth Outlook Watched Amidst Data Dependence
Sep-09 17:25
- We have published and e-mailed to subscribers the MNI ECB Preview, including MNI analysis plus analyst views on what to expect at this month's meeting.
- Please find the full report here: https://media.marketnews.com/ECB_Preview_Sep2025_45838e0072.pdf
- The ECB is fully expected to leave its three key rates on hold on Thursday, with its deposit rate at 2.00%.
- ECB President Lagarde is expected to continue to suggest policy is in a good place.
- A data-dependent and meeting-by-meeting approach is expected to be reiterated in a continuation of July’s “deliberatively uninformative” communication approach around future rate decisions.
- Lagarde’s characterisation of economic resilience and/or the extent to which uncertainty has been alleviated by the US-EU trade deal should help shape market reaction.
- Fresh economic projections aren’t expected to be material.
- Recent resilience sees cuts no longer fully priced, with a cumulative 18bp of cuts seen out to mid-2026.
- We judge that the median analyst no longer looks for another cut although the bias is clearly still lower, with 7 of 25 looking for one more cut and 4 looking for two more.
- EUR/USD approaches the meeting after recent strength has seen it tilt back closer to 1.18, a level shortly after which drew unusually direct comments from ECB’s De Guindos back at the Sintra conference.
US TSYS/SUPPLY: Review 3Y Note Auction: Stops Through
Sep-09 17:04
- Treasury futures remain weaker but paring losses after $58B 3Y note auction (91282CNY3) stops through: drawing 3.485% high yield vs. 3.492% WI; 2.73x bid-to-cover vs. 2.53x prior.
- Peripheral stats see indirect take-up rises to 74.24% vs. 53.99% prior; direct bidder take-up retreats to 17.39% from 28.13% prior; primary dealer take-up 8.37% vs. 17.88% prior.
- The next 3Y auction is tentatively scheduled for October 7.
FED: US TSY 3Y NOTE AUCTION: HIGH YLD 3.485%; ALLOTMENT 24.56%
Sep-09 17:02
- US TSY 3Y NOTE AUCTION: HIGH YLD 3.485%; ALLOTMENT 24.56%
- US TSY 3Y NOTE AUCTION: DEALERS TAKE 8.37% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: DIRECTS TAKE 17.39% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: INDIRECTS TAKE 74.24% OF COMPETITIVES
- US TSY 3Y AUCTION: BID/CVR 2.73
