Having drifted flat for weeks at around a 1-in-3 chance - despite endless jawboning from The Fed - March rate hike odds suddenly surged higher today (to up to a 50% probability), or as Reuters put it "out of the blue."
Canadian oil sands is struggling to remain competitive in a marketplace that has changed dramatically from three years ago. A glaring example of this problem came from ExxonMobil this week, which announced that it had removed 3.3 billion barrels of Canadian oil sands from its books.
The chairman of the House Intelligence Committee said on Monday he has seen no evidence of contact between Donald Trump's campaign and the Russian government during the 2016 presidential election. Nunes said he had been briefed on a transcript of a phone call that Michael Flynn had with a Russian envoy after the election and said he did not hear anything worrisome about that call.
"The Kingdom and other Gulf nations have expressed that they are ready, in cooperation with the United States, to send special forces. Even other nations that are part of the Islamic Coalition against Terrorism and Extemism are ready to send troops."
As observed earlier in the day, as part of the leaked preliminary Trump budget, the president was set to unveil major spending increases in the US defense budget, offset by cuts to federal agencies, and other non-defense sectors. Moments ago, the first details emerged, including that the boost to defense spending is expected to be $54 billion.
In many other countries, with the obvious exception of the United States, corrupt bankers are often brought to task by their respective governments. The most recent example of a corrupt banker being held accountable comes out of Spain...
Markets are on edge ahead of tomorrow's critical Trump address to Congress, in which as Bloomberg notes, "trillions are at stake" and which sellside analysts hope will be more "shining city" than a "dumpster fire."
With the dollar sliding on rising fears Trump may disappoint in his address to Congress tomorrow evening, moments ago the dollar spiked, and risk assets rebounded after headlines hit from Reuters and Bloomberg in which Trump previewed that "we're going to start spending on infrastructure big." However, fading the optimistic tone, Trump also warned that his tax plan would be released only after Obamacare is tackled, and health plan costs are known: