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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 debt limit showdown has weighed heavily on the approval rating of President Biden as months of rancorous rhetoric between the White House and House Republicans appears set to deliver a significant political victory to House Speaker Kevin McCarthy (R-CA).
- Biden has seen his approval rate collapse from 44.8% in late February to 41.6% today, according to RealClearPolitics' aggregated approval rating.
- Biden remains the bookmakers' favourite to retain the White House in 2024 but former President Donald Trump has closed the margin since he appeared on a CNN town hall last week. According to data from Smarkets, Biden has an implied probability of 37% of winning in 2024, compared to 28% for Trump.
- Biden's approval rating may fall further in the coming days if details of an emerging deal to raise the debt ceiling favour the GOP, as expected.
- Biden's standing may also be hit by the cancellation of a key summit in Australia where he was expected to tout unity in the Indo-Pacific region with Japanese Prime Minister Fumio Kishida, Indian Prime Minister Narendra Modi, and Australian Prime Minister Anthony Albanese.
Figure 1: President Biden Approval Rating
Source: RealClearPolitics
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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