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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
The New York Times reporting that Rep Pat Ryan (D-NY) has called on US President Joe Biden to withdraw from the presidential race, becoming the 8th Democrat lawmaker to publicly urge the president to step aside, along with dozens of others who have "expressed concern." NYT tracker here.
- Ryan told the Times: “I’d be doing a grave disservice if I said he was the best candidate to serve this fall... I’m asking Joe Biden to step aside in the upcoming election and deliver on the promise to be a bridge to a new generation of leaders.”
- Ryan also pushed back on Biden's assertion that "elites" are trying to push him out: “These are the opposite of elites. These are people eating hot dogs and drinking beer..."
- Ryan's statement carries additional weight as he was the only New York Democrat to win a competitive House race in the 2022 midterms, when NY mini red-wave delivered the House to the GOP.
- Politico published a reporttoday claiming that New York Democrats are now worried that New York could be competitive in November, despite Democrats outnumbering Republicans 2-1 in the state.
- According to Smarkets, former President Donald Trump is now given an implied probability of 64% of winning, his highest number of the cycle so far.
- More positively for Biden, Fed Chair Jerome Powell said in testimony to the House Financial Services Committee a short time ago that he had, "not noticed any cognitive decline" in interactions with Biden.
Figure 1: Presidential Election Winner
Source: Smarkets
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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