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.
"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."
The Long Bond has erased all its losses for March as 30Y yields drop back below 3.00% for the first time since Feb 28th. Given the massively over-extended length of shorts, there seems plnety of room for yields to fall further...
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.
"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,
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.
"The downgrade of Saudi Arabia's Long-Term IDRs reflects the continued deterioration of public and external balance sheets, the significantly wider than expected fiscal deficit in 2016 and continued doubts about the extent to which the government's ambitious reform programme can be implemented."
Neil Gorsuch will take the stand again today before the Senate Judiciary Committee to once again school Senate politicians on the value of "separations of power" despite their endless attempts to make him offer up his personal opinions on controversial legislation.
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."
"This is the first time in a very, very long while we have actually gone short of equities, but it is our intention to become even shorter of them, hoping to sell a bounce that might develop intra-day." - Dennis Gartman
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 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."
"Markets are waking up to the reality of the Trump hangover, which is going to mean a renewed focus on all the complacencies we’ve let build up in recent months. No surprise the mood has gone more than a little bit Risk Off." - Bill Blain
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.
The Swedish Civil Contingencies Agency (MSB) has reportedly been ordered to ready a series of 65,000 nuclear fallout bunkers spread across the country over fears of the growing threat posed by a "resurgent Russia."