5 to 11 October: President Trump returns to the campaign trail

As China was on holiday for most of the week, investors were busy the news flow coming out of the US. President Trump left the hospital, where he was treated after testing positive for Covid-19, and returned to the White House. The President was cleared by his doctor, claiming Mr. Trump was no longer a coronavirus transmission risk to others and could end self-isolation. The White House did note disclose a negative covid test. The President made it clear that he wants to return to the campaign trail as soon as possible – in an attempt – to close the popularity gap between him and Mr. Biden. According to the New York Times’ report, Joe Biden’s lead was as high as 12 points (11th October). Fox News’ own poll suggests that the President is 10 points behind the former Vice President (survey conducted 3-6th October).

This week, markets will be intrigued to see if Nancy Pelosi and Steven Mnuchin make any progress on finding the common ground to pass a new economic relief bill. The IMF’s annual meetings will be another key theme, which could influence investors appetite for risk assets globally.

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