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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.
US
Senate Democrats have unveiled a revised USD$95 billion national security supplemental bill which will come in front of the Senate for a vote today. The bill has been stripped of USD$20 billion in funds to secure the US-Mexico border and removes some funding for Afghanistan which was in President Biden's original USD$106 billion package.
- After months of wrangling, the Senate is now facing a vote on effectively the same package which was delayed by Republicans in order to push for border reforms.
- The package has a reasonable chance of making it through the upper chamber after Senate Majority Leader Chuck Schumer (D-NY) made some concessions on an amendment process and some senior Republicans indicated they may support the bill.
- If it somehow finds a passage through the House, via some sort of bipartisan deal-making, it would deliver a major blow to House Speaker Mike Johnson (R-LA) whose tenure in the House has failed to deliver any significant policy wins for conservative rebels who ousted former Speaker Kevin McCarthy.
- Rep Tom Massie (R-KY) said in a statement on X today: “Getting rid of Speaker McCarthy has officially turned into an unmitigated disaster. All work on separate spending bills has ceased. Spending reductions have been traded for spending increases. Warrantless spying has been temporarily extended. Our majority has shrunk.”
Figure 1: National Security Supplemental
Source: US Congress Appropriations
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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