1. Trump’s reckless return to White House amidst warnings

The White House has become a breeding ground for viral contagion with at least 11 of the President’s staff either contracting the virus or — in the case of his daughter Ivanka — are working from home. Entire suites of offices sit vacant as Trump’s staff try to isolate him. There have been reports that his dramatic return was a desperate attempt to show strength and resilience of his candidature for the upcoming elections, but in reality, many medical commentators suggest the treatment he is undergoing is meant for severe strains of COVID-19.

2. The debate between the U.S. Vice Presidential candidates to take place tomorrow

A week after Trump and Democratic nominee Joe Biden had a combative and chaotic debate, Vice Presidential nominees Mike Pence and Indian-American Kamala Harris will meet tomorrow at Salt Lake City under dramatically different circumstances. With President Donald Trump fresh out of the hospital but still battling the coronavirus, both Pence and Harris will have to reassure voters that they can step into the presidency if either of their Presidential candidates become unfit to run the country.

3. Indian Rupee Gains Momentum against the US Dollar

During the pandemic, the reduced imports into the country resulted in shrinking trade deficits, along with $6.5 billion (INR 48,000 cr) foreign investments to purchase India’s underpriced stocks have led to a current account surplus, steadily helping it advance by more than 2% against the dollar in the third quarter.

4. Pandemic Rebound: Europe Stocks Slip After Recent Rally

European stocks pulled back from a two-week high and U.S. futures retreated after a rally yesterday when President Donald Trump left the hospital. The Stoxx Europe 600 Index fell 0.2%.
Germany’s new coronavirus cases jumped the most since mid-April, highlighting Europe’s struggles to keep the pandemic in check. Italy’s government is set to order stricter public measures.

5. Covid-19 Making a Dangerous Comeback in Most Parts of U.S.

Covid-19 is spreading again across most of the U.S., especially in rural America and smaller cities and raising tensions in New York City. Experts warn that school reopenings and upcoming colder weather may cause the situation to rapidly deteriorate. Similar concerns are emerging in Canada.

6. Oil Prices Rise on US Fed Stimulus Optimism

Oil rose further after the biggest gain since May on growing optimism for more U.S. fiscal stimulus. Oil futures added 1.2%, following Monday’s surge above $39 (INR 2900) a barrel. Crude rose on Monday as part of a broader market relief rally and aided by a strike in Norway that has shut fields and is curbing flows. Normalization of life in China where people are vacationing during the Golden Week holiday displayed China’s confidence in its economic rebound and public health measures, aided in positive demand for oil. But the outlook for global oil demand remains patchy with stricter lockdowns coming into force in parts of Europe.

7. 50 Crore Travelers Show China’s Economy Moving Past COVID

With the Covid-19 pandemic largely under control in China, the Golden Week holiday is putting on display the country’s confidence in its economic rebound and its public health measures. Through the first four days of the week-long holiday that started Oct. 1, some 42.5 crore people travelled domestically. The surge of activity stands in stark contrast to the rest of the world — the global tourism industry is expected to lose at least $1.2 trillion (INR 88 lakh cr!) in 2020.

8. Central Bankers Pivot From Rescue to Recovery After Record Recession

All central banks across the world have raced to the rescue by reducing interest rates and providing easing as the coronavirus triggered the steep global slump. Now, many monetary policymakers are standing by to do more if needed while signalling they keep interest rates on hold and stimulus programs in place for years to come to ensure the economies recover.

9. Australia Launches Fiscal Policy to Revive Employment

Australia unveiled a multi-pronged fiscal plan that increases its cash deficit (net debt of a country) by $153 billion (INR 11,200 cr), or 11% of its GDP to tackle the 8% unemployment rate – the highest ever in the last 22 years. S&P Global Ratings cut Australia’s AAA credit rating outlook to negative stating the pandemic and stimulus packages may still not revive the economy.

10. Singapore Races to Open its Borders: Worried about its Future

Upset after the record losses at the nation’s airlines and a drop of 98.5% traffic at Changi Airport (once Asia’s third busiest airport), the government says it can’t afford to wait a year or two for a vaccine to become widely available. The revival plan has an impact on hundreds of thousands of jobs, its location as an air transport hub, economic survival and Singapore’s relevance to the world.

BONUS: The Ultra-Rich Are Using Giant Home Loans to Raise Cheap Capital 🤯

Across major cities in the world, the ultra-rich have taken to mortgage their high-value real estate and properties to obtain hundreds of millions of dollars as capital from banks at tiny interest rates of 2-3%, reduced rates that came into effect due to the ongoing pandemic. The cost of capital in such cases is multi-fold cheaper than taking out personal or business loans. These funds are subsequently invested in stocks and financial assets that provide two to three times more return rate than the underlying interest rate on the loans.

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