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Scant Expectations for Today's Biden - McCarthy Meeting

US
  • Some focus on the meeting set to be held between President Biden and Speaker McCarthy later today - this is the first meeting between the two leaders since early February and is pencilled in for 1600ET (2100BST).
  • Senate Majority leader Schumer, House Dem Jeffries and Mitch McConnell are also set to be in attendance, but there are few signs that much progress will be made today.
  • NYT writes: "even the terms of the discussion are in dispute: Mr. McCarthy insists the president negotiate a debt ceiling deal with him, while Mr. Biden insists the meeting will just be an opportunity to tell the speaker that there will be no negotiations over the limit."
  • As such, there are scant expectations for market moving comments or even any progression toward a solution for the debt ceiling. Citi write that they do not expect much market impact as of yet.

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