Risk Assets Bounce Back: Sometimes a week makes all the difference. While the world was obsessed over the US election (Joe Biden appears headed for the White House based on the latest vote counts), global markets rebounded after last week’s across-the-board sell-off. Every component of our standard lineup of the major asset classes posted a gain.
The rear-view mirror continues to show that the US economy is clawing back losses from the coronavirus gut punch in the spring. But the rebound is increasingly threatened by the re-acceleration of Covid-19 cases, fatalities and hospitalizations.
Vote counting pushes Biden closer to winning the White House: Reuters
Federal judge blocks Trump campaign’s request to stop Philly vote count: Reuters
George vote counting gives Biden the lead in the state for the first time: BBG
Control of the Senate still unclear: depends Georgia runoff election in Jan: Politico
Tests of nasal spray that blocks coronavirus looks promising: NYT
Fed leaves rates near zero–warns of more coronavirus fallout for economy: CNN
October job cuts in US dropped to lowest number in seven months: CGC
US jobless claims fell again but remain unusually high: CNBC