US 10YR FUTURE TECHS: (U5) Resistance Intact

Jake Sherman at Punchbowl News reporting that House Speaker Mike Johnson (R-LA) and members of the conservative House Freedom Caucus will meet with President Donald Trump at the White House at 15:00 ET 20:00 BST. Sherman notes that Trump, "is expected to tell the HFC that the bill needs to pass today," referring to the 'Big Beautiful' reconciliation bill. 

• As noted in previous bullet, the move is consistent with a strategy utilised by Johnson and Trump throughout this Congress to personally whip individual conservative House Representatives on key House votes. See: US: Speaker Johnson Says There Is "Chance" Of A Vote On Megabill Today
• Johnson and Trump are likely to impress on conservatives that passing the House reconciliation bill today is crucial to minimise the risk of attendance problems caused by the upcoming Congressional recess.
• Trump is likely to use his authority to informally endorse more deficit reduction measures in future revisions to the bill, as the package next heads to the Senate, where it is likely to be rewritten and returned to the House.
• The White House meeting keeps open the possibility that Johnson could schedule a vote in the House today. If a vote doesn't come this evening, Johnson has promised to keep the chamber in session indefinitely until the bill is passed.
• Note: The House Rules Committee is still in session and debating amendments to the bill. The panel is yet to unveil any updated measures. 

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