A dozen moderate House Republicans have issued a letter to GOP leadership warning they won’t back a reconciliation package that includes major cuts to Medicaid. The letter is the opening salvo in what is expected to be a bitter dispute between Republican moderates and deficit hawks over how deeply to cut government spending to fund President Donald Trump’s tax agenda.
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The trend condition in S&P E-Minis remains bearish and fresh cycle lows last week reinforced current conditions. Moving average studies are in a bear-mode set-up highlighting a dominant downtrend. Sights are on 5483.50, a Fibonacci projection. Note that the short-term trend condition is oversold, a corrective bounce would allow this set-up to unwind. Firm resistance to watch is 5976.83, the 50-day EMA.
MNI reports on the outlook for the Fed's Summary of Economic Projections for March -- on MNI Policy MainWire now, for more details please contact sales@marketnews.com.
Tesoro Publico has announced it will be looking to sell a combined E5.5-6.5bln of the following at its auction this Thursday, March 20: