FOREX: Yield Reversal Helps Stabilise US Dollar, Long-Term DXY Support Monitored

A new survey from I&I/TIPP has found that, “Democratic Socialist policy ideas resonate only with a minority of US voters,” despite the DSA  being “perhaps the most influential arm of the Democratic Party today.”

• TIPP notes on a proposal of the DSA's plan: "Government ownership of the largest corporations and important industries,” that “about a third — 33% — agree with the idea either strongly (13%) or somewhat (20%), while 52% disagree strongly (34%) or somewhat (18%).”
• TIPP continues, “By political grouping, among Dems, 37% agree with government control, while 47% disagree. Republicans, perhaps shockingly, are not too far away in their views: 34% agree, 54% disagree. Independents are strongest in their rejection: 26% agree, 57% disagree.”
• The survey is likely to feed into some concern within the Democratic establishment that a surge from progressive candidates in Democratic primaries may open the door to the GOP in key midterm races, including the crucial Maine and Michigan Senate races. 

Figure 1: “Do you agree or disagree with the following policies the DSA recently proposed in its "Workers Deserve More!" policy document: Government ownership of the largest corporations and important industries”

Source: I&I/TIPP

• US Data/Speaker Calendar (prior, estimate). All times ET
• 07/22 0700 MBA Mortgage Applications (-2.7%, --)
• 07/22 1130 US Tsy $B 17W bill auction
• 07/22 1300 US Tsy $13B 20Y Bond auction re-open
• Source: Bloomberg Finance L.P. / MNI

THREE EXPLOSIVE-LADEN DRONES SHOT DOWN NEAR U.S. CONSULATE IN IRAQ'S ERBIL - SECURITY SOURCES TO REUTERS - [RTRS]