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MNI POLITICAL RISK - Shutdown Risk Decreases With FY24 Numbers

Executive Summary:

  • Congressional leaders yesterday unveiled topline spending numbers to fund the government through Fiscal Year 2024. The Senate returns to Washington today, and the House tomorrow, ahead of a two-week sprint to conclude spending legislation and avert a partial government shutdown on January 20.
  • The deal, announced by House Speaker Mike Johnson (R-LA) and Senate Majority Leader Chuck Schumer (D-NY), falls largely in-line with the numbers agreed by President Biden and former House Speaker Kevin McCarthy in last spring’s Fiscal Responsibility Act – the bill to raise the debt limit and curb some government spending.
  • Republican negotiator Senator James Lankford (R-OK) told reporters over the weekend that a framework for US-Mexico border policy overhaul could be released as soon as this week.
  • US Secretary of State Antony Blinken will meet Saudi Crown Prince Mohammad bin Salman this evening as he continues fourth extended tour of the Middle East since October.
  • President Biden will give another speech today warning that former President Donald Trump and his ‘MAGA’ movement pose an existential threat to US democracy.
  • US Defense Secretary Lloyd Austin is facing criticism after failing to disclose that he had been hospitalised after complications with an elective surgery.
  • Former President Donald Trump’s 2024 presidential campaign and legal calendar converges this week.
  • China has announced new sanctions on five US defence industry firms.
  • Poll of the Day: Voter optimism over the economy is increasing but President Biden is not getting much credit.

Please find the full article attached below:

MNIPOLRISKUSDaily080124.pdf

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Political Market NewsPolitical Risk

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