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BOND SUMMARY

EGB/Gilt: Ending The Week On A Soft Note

CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

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Representative Lee Zeldin (R-NY) has officially announced his entry to the race for the governorship of New York state in 2022. Zeldin, who has served in the House of Representatives for NY's 1st Congressional district since 2015, is viewed as a close ally of former President Donald Trump and could end up receiving the endorsement of a man who carries hugely significant sway in the Republican party.

  • Zeldin is seeking to challenge incumbent Democratic governor, Andrew Cuomo, whose administration has been rocked by allegations of sexual misconduct.
  • Zeldin was one of the most vocal defenders of President Trump during and after the 2020 presidential election. Zeldin was one of the members of Congress that objected to the certification of the Electoral College results, which some have said was a contributing factor to the Capitol Hill riots of 6 January.
  • In order to challenge Cuomo (or any Democratic party candidate), Zeldin will have to win the Republican primary. Yesterday, Andrew Giuliani, son of Trump lawer and chief media cheerleader Rudy Giuliani, also announced his intention to stand for the NY governorship.
  • Outside of the 2022 mid-terms, the NY gubernatorial race is likely to be one of the most closely-watched contests of the election season. NY has not had a Republican serve as governor since 2006, when three-term incumbent George Pataki retired. However, the Democrats are likely to be weakened in 2022 either putting forward an incumbent tainted by scandal or by replacing Cuomo with a less-recognised candidate.