SANDERS CLINTON CONFAB: Hillary Clinton and Bernie Sanders are set to sit down and discuss Sander’s policy wish list, his campaign, and the upcoming convention in July. Sanders has yet to suspend his campaign and up to this point felt that the longer he holds out, the more leverage he has to push Clinton and the Democrats in his direction, but he’s getting perilously closer to overstaying his welcome. Look for Sanders to push his mainstay ideas like wage inequality, free healthcare and free college tuition, and Wall Street reform, while Clinton looks to press for issues she hopes will end up unifying the party - like climate change, immigration, and foreign policy. With Donald Trump threatening to ban ethnic groups and cancel the Paris climate deal, look for Sanders and Clinton to rally and unite the party with their eye on the November prize being more than just the White House.
CONTRASTS IN CIRCUMSPECTION: In times of turmoil, true leaders emerge and have stood to both console and rally our nation. The tragic massacre in Orlando comes as the first big test of the 2016 general election. Trump is using the situation to double down on his sentiment towards Muslims, immigration and went on to tweet an I-told-you-so statement, calling for President Obama to resign. In contrast, Clinton canceled her first dual campaign appearance with Obama, delivering more somber remarks and outlining her goals to combat terrorism. Candidates will ultimately differentiate and further distance themselves from their opponent in their response to situations of this magnitude - expect this to prevail throughout the election.
THAT’S A WRAP: Today is the official close of the 2016 primary season with the Democrat’s last stop in DC. Although the primary is inconsequential from a delegate standpoint, it may mark the graceful exit of Bernie Sanders from the race. Let’s see how that little meeting with Clinton goes...
DONALD'S DONOR DEFICIENCY: The Trump camp may have lost more sorely-needed donors after high profile patrons made no bones about shutting their wallets at Mitt Romney’s annual conference. Donors were vocal in their concern with Trump’s lack of discipline and his demagoguery. The summit, which brings together Romney’s extensive network of wealthy contributors, further serves as a reminder of the hurdles Trump faces in corralling the monied crowd. If he’s unable to mend the wounds, look for these dollars to go elsewhere – we hear Gary Johnson is looking for help.
PROMESA FLOATED IN THE SENATE: Help for the debt-stricken island appears to be just weeks away after a strong House vote (297-127) bolstered the prospect of the legislation in the Senate. That is - unless, there is objection from one Senator; enter Bernie Sanders. Sanders has openly opposed the legislation and introduced his own bill so Capitol Hill awaits his approach. To add to the growing pressure in Congress, the Supreme Court yesterday rejected Puerto Rico’s ability to allow public utilities to restructure their $20 billion in debt, striking down a 2014 Puerto Rico Law, furthering the debt crisis on the island.
BREXIT COUNTDOWN: Uncertainty continues to rise with nine days left before the United Kingdom’s “Brexit” referendum. Over the weekend, two polls put the Leave camp ahead, while a UK betting firm has implied the probability of a vote to Remain has now fallen to 68.5% from almost 80% a week earlier. We spoke with Alexander Nicoll, a consulting member of the UK-based International Institute for Strategic Studies, on the events leading up to the UK vote and what the outcome of the vote spells for the UK and EU. You can listen to the replay here.
HUNTED: THE F-35 PROGRAM AT FARNBOROUGH (LMT, UTX, NOC, BAE, BA): On Friday, June 17th at 11:00 EDT, our Senior Defense Policy Advisor LtGen Emo Gardner will host a call for investors regarding the first ever appearance of the F-35 at the world’s most important aerospace show, the Farnborough International Airshow, July 11-17.
ELECTION PREVIEW WITH SCOTT REED: Please join us for a call next Tuesday, June 21st at 11:00 AM EDT, with Scott Reed, one of Washington’s top political strategists, as he shares his insight on the presidential election, the upcoming Democratic and Republican conventions, and Senate and House races this fall. You can find the dial-in information here.
DON KOHN REPLAY: In case you missed it, we spoke with Former Fed Vice Chairman Don Kohn ahead of the FOMC meeting today and tomorrow. You can listen to the replay here.