Conservative Koch Brothers Urge Resistance As Trump Faces Pivotal Obamacare Vote Tomorrow

Donald Trump faces a Presidency-defining test in tomorrow's Obamacare vote.  Will the conservative elements of the party trust him with their political futures and unite the Republican party or will they instead stick with the deep-pocketed conservative advocacy groups that fund their campaigns?  The answer to that question will have far-reaching implications that could ultimately determine the fate of Trump's entire Presidency.

Tillerson: "I Didn't Want This Job"

"I didn't want this job. I didn't seek this job," Tillerson told the Independent Journal Review in an interview during his recent Asia trip. When asked why he agreed to take on the position of secretary of State, Tillerson said his wife "told me I'm supposed to do this."

WTI/RBOB Plunge After Inventory Hits Record High, Production Surges

After a sizable build in crude and draw in gasoline overnight from API, WTI and RBOB are lower (legged down on Libya production news). DOE data confirmed the API data with a sizable crude build and gasoline and distillates extending their draw streak. US crude production rose once again - the highest in 13 months.

Existing Home Sales Tumble As NAR Warns Prices Becoming Increasingly Unaffordable

"The affordability constraints holding back renters from buying is a signal to many investors that rental demand will remain solid for the foreseeable future. Investors are still making up an above average share of the market right now despite steadily rising home prices and few distressed properties on the market,

FHFA Home Price Growth Weakest Since Nov 2013

January saw home prices unchanged from December - the weakest MoM growth since November 2013. This was below the lowest of 16 economists' estimates and was driven in larg epart by a tumble in prices in East South Central region.

Russian Billionaire Deripaska Responds To AP Story On Manafort Ties

Responding to the AP story about Manafort's ties with Deripaska that is certain to dominate today's news cycle, a spokeswoman for Deripaska said that the Russian billionaire didn’t pay Manafort for the Russia-related work. There was an "agreement between Mr. Deripaska and Mr. Manafort to provide investment-consulting services related to business interests of Mr. Deripaska which now is a subject to legal claims."

Frontrunning: March 23

  • U.S. stock futures slip as concerns mount over delays to Trump tax cuts (Reuters)
  • Global Markets Follow U.S. Stocks Lower (WSJ)
  • Gorsuch, Avoiding Pitfalls, Moves Closer to Approval (WSJ)
  • Trump, Koch brothers at odds over 'Trumpcare' vote (Reuters)
  • Manafort's plan to 'greatly benefit the Putin Government' (AP)

Kremlin Says Report Of Fillon's Ties To Putin Is "Fake News"

A French media report alleging that presidential candidate Francois Fillon was paid to arrange introductions to Russian President Vladimir Putin is "fake news," Russia's Kremlin said on Wednesday. "It is what in English we call 'fake news,'" Kremlin spokesman Dmitry Peskov said, when asked to comment on the report.

Global Stocks Tumble; Gold, Safe Havens Jump On Doubts Trump Tax Cuts Will Pass

Global stocks tumbled amid growing doubts President Trump will be able to deliver on a promise of tax cuts that has powered stocks markets to record highs pushed shares lower on Wednesday and drove investors to seek safety in government debt, gold and the yen. As DB put it: "Warning! US equities can occasionally go down as well as up a lot."

Here Are The 26 People Responsible For Today's Market Plunge

For all those who are looking for someone - or someones - to blame for today's selloff, which is shaping up as the worst of 2017, here is the list of 26 Republican house members who are jeopardizing Trump's entire domestic agenda. As a reminder, the GOP can only afford to lose 21.