Running out of time

Weekend Reading

U.S. President Donald Trump said he plans to return to the campaign trail next week despite being infected with the coronavirus, as it's beginning to look like he's running out of time to make up lost ground in the polls. That's prompted currency traders to dust off the so-called Trump trade, only this time they're betting he'll lose the election. Even real estate professionals are pumping more cash into former Vice President Joe Biden's campaign than they are for Trump. Meanwhile, rich Americans are considering transferring their wealth to the next generation rather than face new taxes under a Biden administration faced with a deeply damaged U.S. economy and unprecedented government debt.

What you'll want to read this weekend

Financial markets are starting to agree that Biden's spending plans could drive economic growth higher. But for now, a famous strategist at Goldman Sachs warned of considerable market downside before the election. That said, here's where to invest $10,000 right now.

Among new findings on Covid-19, even mild infections can make people sick for months. The Trump administration just agreed with earlier assessments by medical researchers that the airborne virus can spread by more than 6 feet indoors, and people who are merely overweight, not just the obese, are more likely to fall very ill from the infection.

Singapore is racing to open borders to travelers, warning it can't afford to wait for a vaccine. China's crackdown on Hong Kong could help Japan become a global financial hub again. And despite Brexit, bankers and hedge funds will always love London, Marcus Ashworth said in Bloomberg Opinion.

Whole Foods is getting left behind in Amazon's lockdown-fueled boom. While Starbucks and other chains gain ground during the pandemic, if you have a local coffee shop, it's probably going out of business. To help fight America's hunger crisis, Craigslist founder Craig Newmark is donating $10 million. And the first rule of CBD brand-building? Don't talk about CBD.

The "Ibiza of the Alps" is preparing for a more subdued ski season this winter. But consider packing your own ski picnic if you do go. And for anyone wanting warmer weather, here are the Caribbean Islands you can travel to now.

What you'll need to know next week

What you'll want to read in Bloomberg Green

Exxon's Plan to Surge More Emissions Revealed

Exxon Mobil had plans to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows. The drive to expand planet-warming pollution despite the accelerating climate crisis comes as some of Exxon's rivals, such as BP and Royal Dutch Shell, move to curb oil and zero-out emissions.

Exxon Mobil's oil refinery in Baton Rouge, Louisiana

Photographer: Barry Lewis/In Pictures

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Bracing for the U.S. election: America's presidential campaign has already been a roller-coaster ride for global investors, and it promises to get even more intense. There are a range of scenarios for market participants to consider: What happens if President Donald Trump loses and doesn't concede? Or if he again loses the popular vote but wins in the Electoral College, only this time triggering civil unrest? Join us virtually on Oct. 21 at 1 p.m. Singapore time (GMT+8) to hear how Kathy Matsui, vice chair Goldman Sachs Japan and Brian Barish, president and CIO of Cambiar Investors, are preparing their portfolios. Register for free here to be part of this live, interactive conversation, or to access all content on-demand at your convenience.

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