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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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MNI China Daily Summary: Wednesday, November 27
Democrat Sen Menendez Guilty On Federal Corruption Charges
Democratic Senator Bob Menendez (D-NJ) has been found guilty by a New York City jury on federal charges of selling his influence as chair of the Senate Foreign Relations Committee to protect business contacts and promote Egypt's interests.
- Menendez stepped down from his committee position when charged in September 2023, but resisted calls from some fellow Democrats to resign. He is currently running for re-election as an independent at the general election in November, but had little chance of winning even before the verdict.
- It is unclear how Menendez will respond to the verdict. He could refuse to resign from Congress until his appeal is heard but would certainly face intense pressure to step aside and could face an expulsion vote, requiring a two-thirds majority to pass. If he steps down immediately, Democrats would retain 50-49 control of the Senate.
- Reuters notes: "Before being charged, Menendez was not only a powerful Senate committee chair but an important ally in President Joe Biden's efforts to reassert U.S. influence abroad, rally support and money to help Ukraine, and stall advances by China."
- The verdict may have some broader political impacts, especially coming during the Republican National Conference, where assembled media will likely be especially receptive to GOP talking points on Democrat corruption.
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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.