Have The Majors Given Up On Canada's Oil Sands?

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.

Trump Seeks "Historic" $54 Billion Increase To Defense Spending

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.

Risk Bounces After Trump Promises To Start "Spending On Infrastructure Big", But Warns On Tax Plan

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:

Are Big Banks' Dark Pools Behind The Run-Up In Bank Stock Prices?

The biggest banks on Wall Street, both foreign and domestic, have been repeatedly charged with rigging and colluding in markets from New York to London to Japan. Thus, it is natural to ask, have the big banks formed a cartel to rig the prices of their own stocks?

Key Events In The Coming US

The main focus this week will be on President Trump's speech to Congress and Chair Yellen's speech which is the last before the blackout period. US durable goods, ISM, the BoC rate decision, EZ CPI, UK PMIs and a busy calendar in Australia & Scandinavia also coming up.

Iran Test-Fires Sea-Launched Cruise Missile After Ahmadinejad Slams Trump, USA In Open Letter

The Iranian Navy successfully test-fired its Nasr sea-launched cruise missile, the country's Defense Minister said. The latest naval cruise missile, called The Nasr, was successfully launched and hit the predetermined targets. Iran also successfully test-fired an advanced domestically-made laser-guided missile system dubbed Dehlaviyeh, "specialized in targeting vessels and ships."

Core Durable Goods Orders Tumble Most Since June, Shipments Slump

While the headline durable goods oders print beat expectation (rising 1.8% MoM in Jan) - thanks to a considerable downward revision in December - the core orders and shipments disappointed markedly and declined in all cases.  Core durable Goods Orders fell most since June and Shipments fell most since July as it appears 'hard' data drastically disappoints relative to 'soft' data expectations.