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Why MNI
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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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Free AccessDemocrat Sen Tests Positive For COVID, Could Hold Up Inflation Reduction Act
Senate majority whip Dick Durbin (D-IL) has announced that he has tested positive for COVID-19 and will be self-isolating while working remotely.
- Durbin's quarantining comes at an inopportune time for Senate Democrats given the agreement reached between majority leader Chuck Schumer (D-NY) and moderate Senator Joe Manchin (D-WV) on a slimmed-down reconciliation bill, the Inflation Reduction Act.
- There had been some hopes from Dems that the bill could progress swiftly with the support of all 50 of the party's senators. However, Durbin's non-attendance could throw this off, as could the potential opposition from centrist Senator Kyrsten Sinema (D-AZ).
- Presciently, Punchbowl News wrote earlier today: "The Senate parliamentarian has to review all of this text, and we anticipate that will take several days. Schumer hopes to consider this package on the floor next week, but we are a bit skeptical on their timing given how long it takes the parliamentarian to complete the Byrd Rule process.So if the Senate finishes work on this bill next week, we’d be surprised. [...] One important variable to keep in mind: Senate Democrats have to hope that their entire caucus remains healthy and Covid free. They’ll need all 50 votes for this package."
To read the full story
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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.