US: Trump Approval Weak On Issues Most Important To Voters

Sep-24 18:10

New survey data from Strength In Numbers/Verasight, analysed by G. Elliot Morris, shows that President Donald Trump's approval rating “is most negative on the issues Americans rate as the most important: prices/inflation (-31), health care (-24), and government funding/social programs (-19).”

  • Morris writes, “Of particular note is that this -31 reading for inflation represents an all-time low for Trump, as does his approval on health care… These results underscore Trump’s enduring weakness on pocketbook — the policy domains that have decided the last several U.S. elections. Trump’s disadvantage on the issue goes a long way to explaining Democrats’ current lead on the generic ballot.”
  • On the US House generic ballot, Morris notes, “Democrats lead 47% to 42% among U.S. adults (11% undecided). Among people who say they are definitely or very likely to vote, the margin is 50% to 45%.”

Figure 1: Approval of President Donald Trump on the Following Issues

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Source: G. Elliot Morris, Strength In Numbers, Verasight

Historical bullets

LOOK AHEAD: Tuesday Data Calendar: Fed Speak, Durables/Cap Goods, 2Y Note Sale

Aug-25 17:56
  • US Data/Speaker Calendar (prior, estimate)
  • 08/26 0830 Richmond Fed Barkin expected to repeat speech on economy from Aug 12, will take audience Q&A).
  • 08/26 0830 Philadelphia Fed Non-Mfg Activity (-10.3, --)
  • 08/26 0830 Durable Goods Orders (-9.4%, -4.0%), ex-trans (0.2, 0.2)
  • 08/26 0830 Cap Goods Orders Nondef Ex Air (-0.8, 0.2%), Ship (0.3%, 0.2%)
  • 08/26 0900 FHFA House Price Index MoM (-0.2%, -0.1%)
  • 08/26 0900 S&P CoreLogic CS 20-City MoM SA (-0.34%, -0.20%), YoY (2.79%, 2.2%)
  • 08/26 1000 Richmond Fed Manufact. Index (-20, --), Business Conditions (-8, --)
  • 08/26 1000 Conf. Board Consumer Confidence (97.2, 96.4)
  • 08/26 1030 Dallas Fed Services Activity (2.0, --)
  • 08/26 1130 US Tsy $85B 6W bill auction
  • 08/26 1300 US Tsy $69B 2Y Note auction (91882CNV9)
  • Source: Bloomberg Finance L.P. / MNI

PIPELINE: Corporate Bond Roundup: $1.05B SEB Launched

Aug-25 17:27
  • Date $MM Issuer (Priced *, Launch #)
  • 08/25 $1.05B #Skandinaviska Enskilda Banken AB (SEB) $750M 5Y +73, $300M 5Y SOFR+106

US: FED Reverse Repo Operation

Aug-25 17:24

RRP usage rises to $47.567B this afternoon from $36.275B Friday -- compares to $22.344B on Tuesday, Aug 19 - lowest since April 5, 2021. Total number of counterparties at 23. This year's high usage of $460.731B on June 30.

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