Editor's Note: Below is a brief excerpt from Hedgeye Potomac Chief Political Strategist JT Taylor's Capital Brief sent to institutional clients each morning. For more information on how you can access our institutional research please email email@example.com.
“It doesn't matter how smart you are unless you stop and think.”
― Thomas Sowell
So far, so good for Donald Trump 3.0, who has maintained a relatively low profile while his campaign continues to improve on all fronts (except his poll numbers). His newfound path forward continues to drive donations and improve its advertising capabilities, focusing on digital media outside of his well-worn Twitter account. The Republican nominee has rolled out websites and attack ads, as he continues to pitch his agenda to supporters and reshape his demeanor.
These factors signal that the Trump campaign is finally gaining some footing and it couldn’t come at a better time - with less than three weeks until the convention Trump still hasn’t nailed down key party endorsements or even solidified speakers for the convention.
Hillary Clinton and MA Senator Elizabeth Warren teamed up to trash Trump, knocking him for his self-promotional trip to Scotland and for his celebratory musings amidst Brexit global turmoil. Clinton and Warren highlighted their blue-collar upbringings, promoted the importance of strong union values, and called for the need to rebuild the middle class.
While many progressive tongues were wagging at the prospect of the two women on the ticket, we feel Warren’s appearance is more of an affirmation of Clinton’s commitment to winning over the progressive wing of the party. Further, Clinton’s increasingly robust surrogate list continues to cast a large shadow over Trump, who seems to have very few major allies by comparison.
CONSERVATIVE CASH FLOW
Freedom Partners Action Fund, a super PAC financed by the network of billionaire brothers Charles and David Koch, has pledged $2.7 million in television and digital ad buys in the OH Senate race where incumbent Senator Rob Portman faces a tough battle with former Governor Ted Strickland. News of the spending spree comes just days after the group announced it will spend $1.2 million on advertising in the NV Senate race where Senate Minority Leader Harry Reid’s open seat is up for grabs.
Republicans are stepping up their fundraising efforts ahead of what will be a dogfight for the House and Senate (perhaps at the expense of the White House) - and we expect no changes to this strategy for the foreseeable future.