US: MNI POLITICAL RISK - House Continues Along Road To Shutdown
Sep-14 12:22
- House Speaker Kevin McCarthy's (R-CA) decision to endorse an impeachment inquiry against President Biden has done little to mollify opposition from House Republican conservatives.
- Although McCarthy has consistently outperformed expectations this year, the delicate power balance between GOP leadership and conservatives struck in January appears to be unravelling, raising the risk of a government shutdown on October 1.
- Democrat strategy for dealing with impeachment is to accept accusations leveled against Hunter Biden and accusing Republicans of lacking evidence linking the President to his son.
- 145,000 United Auto Workers may take a decision to strike today. A walkout would destabilise an industry which contributes around 3% of US GDP and further complicate President Biden’s relationship with unions – a core voting bloc for Biden in 2024.
- 14:45 ET 19:45 BST: President Biden will deliver “a major economic address" in Maryland.
- Tight energy markets are likely to push retail gasoline upwards and weigh on Biden’s re-election bid.
- The US and Bahrain have signed a Comprehensive Security Integration and Prosperity Agreement.
- Poll of the Day: Nearly 50% of voters say the price and gas and consumer goods are their most pressing concerns.
Full Article: US Daily Brief
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US TSYS: What to Watch: Retail Sales Up Next, MN Fed Kashkari on Tap
Aug-15 12:19
- Flurry of data at the bottom of the hour: focus on Retail Sales Advance MoM: 0.4% est vs 0.2% prior, RS Control Group 0.5% est vs. 0.6% prior. Import/Export price index and Empire Manufacturing also released at 0830ET.
- Business Inventories and NAHB Housing Market Index data at 1000ET, Long-term TIC Flows wrap things up at 1600ET.
- Scheduled Fed speak: MN Fed Kashkari at API Conference at 1100ET , Q&A, livestreamed.
GILT PAOF RESULTS: The PAOF for the 1.125% Jan-39 gilt was not taken up
Aug-15 12:11
- A total of GBP625mln had been available.
- This leaves GBP24.38bln of the gilt in issue.
US: MNI POLITICAL RISK - Trump Hit With Fourth Indictment
Aug-15 12:10
- A Georgia grand jury yesterday approved an indictment on former President Donald Trump, and 18 of his associates, on charges he conspired to overturn the result of the 2020 presidential election - potentially the most consequential of his four indictments as Trump would have no executive powers to pardon himself, should he win the 2024 presidential election.
- Treasury Secretary Janet Yellen said in a major speech on the Inflation Reduction Act yesterday that, “the climate transition is one of the biggest economic transitions of our lifetimes."
- Secretary of State Antony Blinken will meet virtually today with Japanese Foreign Minister Hayashi Yoshimasa and South Korean Foreign Minister Park Jin ahead of a key trilateral leaders' summit at Camp David on Friday.
- House Speaker Kevin McCarthy (R-CA) says he expects a short-term funding measure will be necessary to avoid a government shutdown in October.
- The US State Department reiterated yesterday that a deal with Iran to secure the release of detained Americans is not linked with nuclear negotiations.
- Poll of the Day: Trump increased his lead in Republican presidential polling following his third indictment.
Full article: US Daily Brief
