Stimulus Bridge, Food Inflation, WTO Leadership Race: Eco Day

(Bloomberg) -- Welcome to Wednesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi will try Wednesday to bridge remaining gaps in their talks over comprehensive coronavirus relief, blowing past Pelosi’s self-imposed Tuesday deadline amid signs of progress toward a pre-election deal
  • Small businesses, the beating heart of the U.S. economy, have been hard hit by the fallout from the coronavirus pandemic. A $669 billion federal relief program designed to help them survive amid lockdowns has provided a short-term relief to millions, but left behind some of the tiniest and most vulnerable mom and pop stores
• Rising food costs are hitting emerging markets with a double whammy: driving millions into hunger, and thwarting central banks as they try to end the worst slump in decades
• The U.S. and Europe are heading for a clash over their preferred candidates to lead the World Trade Organization as the selection of the first woman to run the referee of global commerce enters a pivotal phase
• After gaining traction in the latter half of September, economic activity has again weakened in October, particularly in European countries, according to Bloomberg Economics’ gauges that integrate high-frequency data such as mobility, energy consumption, and public transport usage
• In the world’s big financial centers -- from New York to Toronto to London to Sydney --rents for inner-city apartments are plunging
  • Covid plus decades of pollution are a nasty combo for Detroit. Have acres of industrial buildup around a Motor City neighborhood left residents especially vulnerable?
• Canadian lawmakers are weighing whether to create a special committee to investigate potential misuse of Covid-19 spending, prompting Prime Minister Justin Trudeau to threaten a snap election

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