SQUAWK BOX, MONDAY 12TH OCTOBER, 2020

Democrats slap down a $1.8tn virus stimulus proposal in a further blow to hopes that an agreement can be reached before the U.S. election next month. President Trump claims he has fully recovered from his bout of Covid-19 and has returned to the campaign trail. France records a new infection high with more cities being placed on the maximum alert level, while Germany sees curfews enforced in Frankfurt and Berlin. In China, the PBOC slashes the forward reserve requirement in a bid to manage the yuan’s appreciation against the dollar.