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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
President Joe Biden's approval rating remains under 40%, a key benchmark regularly cited by political pundits as an indicator of competitiveness for an incumbent president in an election year.
- Biden's approval rating of 38.8%, according to 538, appears to be bucking positive economic data - most importantly on cooling inflation - which were widely accepted as the primary drag on his approval last year.
- If Biden's approval rating fails to strengthen in the coming weeks, it may indicate that voter dissatisfaction is more closely linked to Biden's personal shortcomings including his age, competence, and his response to the war between Israel and Hamas.
- This week, another Biden gaffe - when he mixed up the names of European leaders at campaign events - is likely to feed into a Republican argument that he doesn't have the mental capacity for another term.
- Biden is also exceptionally vulnerable on the border and immigration. This week Congressional Republicans, at the behest of former President Donald Trump, torpedoed a bipartisan Senate bill which could have patched up some of Biden's border issues.
- With polling suggesting that voters trust Republicans on the border, Biden said in a speech on Wednesday: "Every day between now and November, the American people are going to know that the only reason the border is not secure is Donald Trump and his MAGA Republican friends."
Figure 1: President Biden Approval Rating
Source: 538
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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