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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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MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Republicans Defeat Proposal To Change Internal Speaker Rules For Second Time
House Republicans have rejected a proposal to raise the threshold for nominating a candidate for speaker for the second time in two days. The House Republican conference will now hold a candidate forum at 13:00 ET 18:00 BST to select a nominee.
- Currently, Judiciary Committee Chair Jim Jordan (R-OH) is the only declared candidate. If no additional candidates put themselves forward by 12:30 ET 17:30 BST he will enter an internal conference vote unchallenged.
- Jordan’s combative political style suggests that he may be willing to take his fight to the floor and challenge members to vote against him, rather than working to build consensus behind the scenes.
- He has the backing of Trump, the right flank of the party, and the conservative press. He has also laid out a clear plan for handling a government shutdown and funding border security – two issues which contributed to McCarthy’s ouster.
- However, Jordan will have huge problem finding support amongst moderates. In his previous incarnation as a conservative ‘firebrand’ he pressed Trump into the longest government shutdown in history and he has little experience moving legislation.
- There is little evidence to suggest that Jordan has overcome his 'math problem' today, with Mica Soellner at Punchbowl News reporting: Per a source: “There is a contingency of moderates that remain firmly opposed to a Jim Jordan speakership. Swaying them will be an uphill battle for Jordan.”
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.