Wednesday 7 October 2020

Ding, Ding, Ding, Harris V Pence. Rescue Funds Delayed.

Baltic Dry Index. 2097 +26  Brent Crude 42.0

Spot Gold 1884

Coronavirus Cases 07/10/20 World 35,935,014

Deaths 1,053,891

Pelosi earlier told House Democrats on a conference call that Trump’s thinking might be affected by steroids he’s taken to treat his coronavirus infection, according to a lawmaker on the call.

After Trump’s Tuesday afternoon tweet, Treasury Secretary Steven Mnuchin, who had been leading negotiations for the White House, formally told Pelosi that the talks had been halted.

In America, it is fight night two, the contest between the contenders to be Vice President. Unlike fight night one, this fight is expected to follow the Marquis of Queensbury rules and thus be boring.  

A non-entity challenger, picked solely for being a black woman Democratic Senator, is up against the invisible man, the incumbent Republican Vice President who few can name.

Happily, for all, outside of their families, friends and handlers, who will probably tune in to watch, nearly everyone else in America has a life, and probably will find something better to do tonight. 

The big news that rattled US stock casinos yesterday, was President Trump calling off the new stimulus rescue talks until after the November 3rd election. No one in the stock casinos, nor airlines, nor the Fed, saw that coming.

As strategies go to win re-election, it’s different, to use some fine British understatement. Crashing the airline industry, that’s already in in a massive crash and crashing Fed Chairman Powell on the same day is risky to the point of recklessness. 

With China’s markets still closed for a holiday, Asia’s casinos largely treaded water waiting to see how Europe reacts and if the US casinos rebound.

Asian stocks inch up, defy U.S. stimulus gloom

October 7, 2020

 

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