US: Trump Urges Congress To Enact 'Great Healthcare Plan'

Jan-15 16:25

US President Donald Trump has announced in a video message on X and a fact sheet on the White House website that he has requested Congress enact, "a comprehensive plan to lower drug prices, lower insurance premiums, hold big insurance companies accountable, and maximize price transparency."

  • The proposal, entitled "the Great Healthcare Plan" would "execute the President’s vision to send money directly to the American people, lower health insurance premiums, and cut kickbacks that raise insurance premiums."
  • The fact sheet notes, "The Great Healthcare Plan stops sending big insurance companies billions in extra taxpayer-funded subsidy payments and instead send that money directly to eligible Americans to allow them to buy the health insurance of their choice."
  • The announcement comes bipartisan Senate negotiations to revive lapsed premium enhanced Obamacare subsidies appear to have collapsed amid disputes over federal funding for abortions. With the Senate set to recess today, it now appears too late to revive the programm for 2026 enrolment.
  • The White House claims, "The Great Healthcare Plan funds a cost-sharing reduction program for healthcare plans which would save taxpayers at least $36 billion and reduce the most common Obamacare plan premiums by over 10% according to the Congressional Budget Office."

Historical bullets

US TSY FUTURES: BLOCK: Mar'26 5Y Buy

Dec-16 2025 16:21
  • +5,000 FVH6 109-09, buy through 109-08.75 post time offer at 1111:55ET, DV01 $222,000.
  • The 5Y contract trades 109-09.5 last (+3.75).

SOFR: BLOCK: Red Sep'27 1Y Bundle

Dec-16 2025 16:14
  • 3,000 SFRU7 1Y bundle (SFRU7-SFRM8) +0.030 at 1102:43ET, likely swap-tied selling with spds running wider at the moment.

US DATA: NY Fed Services Activity Stays Weak At Year-End, With Prices A Concern

Dec-16 2025 16:08

The New York Fed's monthly regional services firm (aka "Business Leaders") survey showed continued weak activity in December, with a notable pickup in price pressures. As the first of the monthly regional Fed services surveys, as with the prior day's Empire manufacturing report, it suggested little cause for cheer over economic developments at end-year.

  • The general activity index ticked up to -20.0 from -21.7, but this is firmly negative and little changed over the last 4 months (the report describes the upshot as "activity continued to decline significantly"). Likewise, the business climate index at -44.2 (-42.2 prior) remained sub -40 for a 4th consecutive month, though the latest reading was narrowly a 6-month worst.
  • Among the details: capex spending was steady at weak levels, employment fell for a 4th consecutive month amid weak wage growth, and supply availability continued  to worsen. Confidence improved marginally (echoing the Empire Manufacturing survey), with the 6-month general outlook of -1.1 the 2nd best of the year (-4.6 prior).
  • The prices paid gauge however was an inflationary warning sign, jumping over 10 points to 72.1 for a post-2022 high. Expected prices paid edged down 1.7 points to 63.2 but remained above 60 for a 10th straight month.
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