Democrats outline impeachment procedures: The Hill
UK to hold general election in Dec, perhaps breaking Brexit deadlock: Reuters
Fed expected to cut interest rates again today: CNBC
Key points to watch in today’s Q3 GDP report: MW
US pending home sales rose in Sep, marking 3rd gain in past 4 months: MW
Consumer Confidence Index for US slipped in Oct but still reflects optimism: CB
US home prices rose 3.2% in Aug vs. year-ago level, up from 3.1% in July: CNBC
US 10yr-3mo Treasury yield curve rises to 7-month high of +0.20%:

Tomorrow’s preliminary estimate for third-quarter economic activity in the US is on track to edge lower,  based on the median estimate for a set of nowcasts. The government’s first round of Q3 data (due on Oct. 30) will likely show a modest pace of growth. The report also looks set to show that the economic trend decelerated, if only slightly, for a second straight quarter.

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White House official to testify on Trump re: nat’l security and Ukraine: Politico
House set to vote this week to formalize Trump impeachment: Fox
US stock market (S&P 500) closed at record high on Monday: CNBC
China’s slowdown appears to continue in early read on Oct data: Bloomberg
Oil market expected to face excess supply in 2020, IEA forecasts: CNBC
Is the economy’s influence fading as a factor in elections? NY Times
US imports and exports fell in September as trade deficit narrowed: Bloomberg
Texas mfg growth decelerated in October: Dallas Fed
US growth, already at below-trend pace, eased further in Sep: Chicago Fed

Commodities posted the strongest gain for the major asset classes last week, based on a set of exchange-traded funds. Equities generally were also in positive terrain for the trading week through Friday, Oct. 25.
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ISIS leader is killed in US military raid in northwest Syria: The Hill
European Union grants UK a Brexit extension to January 31: Reuters
Bank lending to eurozone companies plunged in September: Reuters
Center-left Alberto Fernández wins Argentina’s presidential election: BBC
US Consumer Sentiment Index shows Americans remain optimistic: MW
NABE survey of economists: US business hiring falls to 7-year low: Fox
US budget deficit widens in 2019 to nearly $1 trillion, biggest gap since 2015: WaPo

● Overdoing Democracy: Why We Must Put Politics in its Place
By Robert B. Talisse
Summary via publisher (Oxford U. Press)
We live in an age of political polarization. As political beliefs on the left and the right have been pulled closer to the extremes, so have our social environments: we seldom interact with those with whom we don’t see eye to eye. Making matters worse, we are being appealed to–by companies, products, and teams, for example–based on our deep-seated, polarized beliefs. Our choice of Starbucks or Dunkin’ Donuts, Costco or Sam’s Club, soccer or football, New York Times vs. Wall Street Journal is an expression of our beliefs and a reinforcement of our choice to stay within the confines of our self-selected political community, making us even more polarized. Letting it bleed into these choices in every corner of our lives, we take democracy too far and it ends up keeping us apart. We overdo democracy.
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In mid-September I wondered if the nascent rebound in value stocks was more than a flash in the pan. A month later, this long-challenged corner of the equity market continues to show encouraging signs that a renaissance is intact, based on analysis of a set of exchange traded funds. It’s still a tentative recovery, but for the moment, at least, it seems that the value factor has a tailwind.

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White House pressure on Ukraine went beyond freezing military aid: WaPo
Pentagon considering plans to deploy tanks to Syria to protect oil fields: CNN
Turkey demands US extradite Syrian Kurdish leader: Reuters
German business expectations improved in Oct after touching 10yr low: BBG
Fed expected to cut interest rates next week: BBG
US Composite PMI edges up in Oct, but still reflects slow growth: IHS Markit
KC Fed Mfg Index: activity continued to decline in Oct: KC Fed
New US home sales fell in September, but remain near post-recession high: MW
Jobless claims fell last week, reflecting tight US labor market: CNBC
US business investment (core capital-goods orders) continued slide in Sep: MW

It’s neck and neck in the US equity sector horse this year between real estate investment trusts (REITs) and technology shares. Both slices of the stock market are leading the rest of the field by wide margins via commanding year-to-date gains, based on a set of exchange funds through yesterday’s close (Oct. 23).

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Trump lifts sanctions on Turkey: BBC
Chair of House Financial Srvcs Committee considers breaking up Facebook: CNBC
Slowing demand for autos is a headwind for the global economy: WSJ
Survey: latest truce in US-China trade war hasn’t reduced recession risk: Reuters
Eurozone policy at crossroads as ECB President Draghi’s tenure ends: MW
German economy continues to contract in October via PMI survey data: IHS Markit
Eurozone economic activity remains close to stagnation in Oct: IHS Markit
Japan slips into a recession in Oct via PMI survey data: IHS Markit
US banks’ commercial lending 1-year growth rate eased to 12-month low in Sep: