US: Trump's Approval Rating Stabilises Amid Decreased Market Turbulence

US President Donald Trump's net approval rating has improved roughly 2.5% since hitting a low in late April. The approval bounce appears to be driven by increased stability in his trade agenda, with preliminary China/UK trade deals signalling a departure from the uncertainty of the early period of Trump's second term. 

• Silver Bulletin notes: "As of today, Trump sits at a -6.5 net approval rating, compared to -13.3 at this point during his first term. He’s also doing better when it comes to immigration. Trump’s net approval on that issue hit a second-term low of -2.5 on April 24th. But it’s now up to +1.5, after new polls..."
• A Reuters/Ipsos survey released yesterday showed Trump’s approval rating increased to 44% - a small tick up from the 42% he measured in the previous month's survey.
• The positive adjustment in Trump's approval is likely to bolster House Speaker Mike Johnson's (R-LA) hand when he brings his reconciliation bill to the floor next week. The slow decline in Trump's approval had raised concerns that frontline Republican lawmakers could see a political imperative in voting down the legislation.
• The NYT notes, "there have been hardly any surveys in the last week, and even fewer from reliable pollsters," suggesting there could be a flurry of new surveys released next week. 

Figure 1: President Donald Trump, Net Approval Rating

Source: Silver Bulletin