No deal on the menu
Risk trades are at risk here.
The question then becomes how well can the US economy do in the coming months and whether there’s a chance for a deal in the lame duck session.
On my read in the polls, the Democrats are well ahead. With no deal, it raises the stakes for the election because if they can sweep, they can author a new stimulus package in January — something I’m sure they would do. However if they don’t get all three chambers, then there’s a risk of a Republican Senate blockade.