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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 AccessNext Week's House Votes Cancelled; Recess From 25 July Amid GOP Divisions
The House of Representatives' Republican leadership has confirmed that no votes will take place the week starting 29 July, meaning the last vote will take place on 25 July at 1045ET. The House will then enter summer recess, returning on 9 September. This will leave around three weeks of sitting before the November election.
- The cancellation of next week's votes comes after the GOP leadership was forced into an embarassing climbdown on the evening of 23 July, where it pulled a funding bill for federal energy and water projects. As Politico reports, the withdrawal marks "another failure in their push to pass a dozen funding measures before the August recess. The setback comes after Republicans were forced to yank two other funding bills from the floor on Monday amid serious whipping issues, [...]. Republicans’ $7 billion measure to fund the legislative branch also suffered a surprising defeat earlier this month, when 10 GOP members joined with Democrats to oppose the measure."
- The razor-thin majority for Speaker Mike Johnson (R-LA) and the deep divisions between hard-line conservatives and moderates, exacerbated by looming races to retain their seats in November, has made getting even 2025 funding bills, usually viewed as non-controversial, difficult to pass.
- Punchbowl: "There’s still no agreement between the two chambers on topline FY2025 spending levels. Meaning everything will have to be passed in a lame-duck session or it’ll drag into a new administration."
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.