It 'looks like the clock has run out' on a new stimulus, says Fundstrat's Washington strategist

Nancy Pelosi and Steven Mnuchin

(This story is for CNBC Pro subscribers only.)

With the presidential election only a week away, "it looks like the clock has run out" on a second Covid-19 stimulus bill for now, according to Fundstrat.

The firm said the negotiations will likely take place in a Lame Duck session, the historically unfruitful period of time after a November election and before the beginning of the new Congress.