US: Thune Says No Votes To Terminate Filibuster, Shutdown Pessimism Surges

Nov-05 15:54

Senate Majority Leader John Thune (R-SD) told reporters there is insufficient Republican support to terminate the Senate filibuster, after President Donald Trump urged the move at a White House breakfast this morning. “I know where math is on this issue in the Senate. It’s just not happening,” Thune said Semafor. 

  • Thune's comments appear to close one possible path to ending the government shutdown. It is unclear whether a dozen reported Democratic senators are still weighing up a three-pronged plan to reopen the government in light of yesterday's 'blue wave' election results, the other offramp out of the shutdown.
  • Schumer and House Minority Leader Hakeem Jeffries (D-NY) penned a letter to Trump earlier today demanding a meeting to discuss a healthcare deal to reopen the government. The combative tone of the letter, including the use of Trump's sign off "thank you for your attention to this matter," suggests Democratic leadership believe the election result has significantly bolstered their shutdown leverage.
  • The pair wrote: "Dear President Trump: We write to demand a bipartisan meeting of legislative leaders to end the GOP shutdown of the federal government and decisively address the Republican healthcare crisis... Thank you for your attention to this matter."
  • Trump's closed-door comments this morning also appear to validate Democrats' negotiating position: "Trump said the election results showed that the shutdown has been “worse for us than for them” & that R’s “are getting killed,”" per Punchbowl.
  • Data from Polymarket shows some positive sentiment has receded, with the implied probability of Nov 16+ shutdown end date surging. 

Figure 1: Government Shutdown End Date

image

Source: Polymarket

Historical bullets

FED: US TSY 26W BILL AUCTION: HIGH 3.695%(ALLOT 3.05%)

Oct-06 15:32
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FED: US TSY 13W BILL AUCTION: HIGH 3.850%(ALLOT 20.89%)

Oct-06 15:32
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  • US TSY 13W BILL AUCTION: DIRECTS TAKE 6.07% OF COMPETITIVES
  • US TSY 13W BILL AUCTION: INDIRECTS TAKE 57.30% OF COMPETITIVES
  • US TSY 13W BILL AUCTION: BID/CVR 2.91

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Oct-06 15:18
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