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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.
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House To Come Into Session 12:00 ET, No Firm Plan For 3rd Speaker Ballot
The House of Representatives will gavel into session today at 12:00 ET 17:00 BST to potentially hold a third rollcall to elect a new speaker.
- A third ballot is far from assured as Republican nominee Jim Jordan (R-OH) lost ground in the second ballot yesterday, leading moderate Republican rebels and Congressional reporters to declare his candidacy unviable.
- Jordan's team has declared his intent to continue pursuing the gavel and his combative political history suggests he could push for additional ballots despite seemingly insurmountable opposition.
- The most widely reported solution to the gridlock is to formally elevate Speaker Pro Tempore Patrick McHenry (R-NC) to the chair with enhanced powers to move legislation, likely through January. This would allow the House to consider a Continuing Resolution to avert a government shutdown on November 17.
- Punchbowl News suggests that this would provide an offramp for Jordan: “Passing the resolution would allow Jordan to effectively end his campaign for speaker without formally dropping out. Jordan can pledge to continue his run for speaker once McHenry’s term is up in January.”
- In the meantime, House Republicans will hold another conference meeting to formulate a ‘plan c,’ which may include sounding out a third nominee.
- Additional analysis in today's edition of our MNI US Daily Brief.
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.