Morning and mizuho comments

Spoos Up Dax down yuan Strongest in 2 + years, Copper Comex touched 2-year highs, Nat gas 18-month highs as global LNG demand pushes prices higher. U.S. natural gas becoming a global product due to LNG exports. Supposedly today is last call for Stimulus bill, Senate will vote on some type of standalone bill, Mnuchin and Pelosi will talk and Trump on Fox news saying Republicans will fall in line on a bill if Pelosi agrees,2 weeks till election day. @JakeSherman THE LEVEL OF DISTRUST in MNUCHIN among Republicans is hard to overstate

 News:

 Goldman Will pay $2B for their role in the Malaysian scandal -BBG UBS reported good earnings, Aussie dollar lower on day as the Cen bank said negative rates are possible, IBM post earnings dropped as it failed to give a forecast, Proctor and gamble the opposite Lifted its full year guidance stock  +1%.Phillip Morris raised its full year guidance. BMW also reported good earnings

The Nasdaq has closed down 5 days in a row. In the last 5 years, n=8 (small sample). NDX closed lower 5 days later 63% of the time and had a lower close within those next 5 days in all but one instance (88%). (@ukarlewitz

Virus:

Germany Cases touched a new record high, CDC urged travelers to wear a mask on trains, planes, and buses. Moderna Expects interim results for its Vaccine in November Paso Texas reporting they are running out of Hospital beds we all know cases are surging

Markets:

Within Stoxx 600 14-20 groups lower led by basic resource and technology, Stoxx 50-.4% Spoos +.45% grasping for new stimulus hopes. Dollar index off a bit but still no technical damage being done. Cattlelong liquidation continued yesterday as Both feeder and Live touched limit down, Corn and beans firm. Bonds and Bunds both  showing higher yields

Via Mizuho

“First up on today in the Senate is a standalone bill to allow unused money left over from a $2 trillion March stimulus deal to reinvigorate the Paycheck Protection Program, which provides help to small businesses facing the risk of layoffs. Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin “continued to narrow their differences” on a coronavirus relief package, a Pelosi aide said Monday. “The Speaker continues to hope that, by the end of the day Tuesday, we will have clarity on whether we will be able to pass a bill before the election,” Pelosi spokesman Drew Hammill said on Twitter. “The two principals will speak again tomorrow and staff work will continue around the clock.” If nothing gets done before the election, then the question is whether a fiscal relief package could get wrapped into an overall spending bill, which is due by Dec. 11. Without passage of such a stopgap funding package, the federal government faces a shutdown.

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