"Germany’s Dumbest Bank" Makes $5.4 Billion Transfer In Error

“The mistake was rapidly identified and eliminated, and the amounts overpaid were successfully demanded back. We regret that during works on the systems, this incident could happen due to human error owing to a configuration mistake.”

Trump Wins: Virginia Judge Refuses To Block Revised Travel Ban

On a day when all eyes are on Washington and the healthcare vote, President Trump just won an important victory as a Virginia judge refused to block his revised travel ban against six predominantly Muslim countries (even though, as Bloomberg reports, the directive remains on hold because of court orders in two other states).

NJ Transit Service Suspended At Penn Station After Train Derailment

Passengers on an NJ Transit train said their train bumped into an Amtrak train in Penn Station at the height of Friday's morning commute, damaging the side of the NJ Transit train and possibly knocking the Amtrak one slightly off the tracks, NBC New York reports.

'Soft' Data Slammed: US Services, Manufacturing PMIs Plunge To 6-Month Lows

Following Europe's surging PMIs (to six year highs), US data was extremely disappointing. Both Services and Manufacturing PMI disappointed, tumbling to the lowest levels since before the election. Simply put, the 'soft' data is converging back lower to the dismal reality of the 'hard' data.

Healthcare Vote Timing: 3:45 pm - 4:45 pm; "Hard No's" Drop To 18

For those curious if today's healthcare vote will take place during market hours, the answer is: it will be dicey. An email from the majority whip Steve Scalise notes that the tentative timing of today's vote will be sometime between 3:45pm and 4:45pm, with a walk off the Floor expected between 4:30pm and 5:30pm.

Gartman: "We Covered Our Short"

"Considering that the passage or non-passage of the health care legislation was a veritable coin toss circumstance we moved to cover those short derivatives positions early in the day and took to the sidelines. We remain there this morning."

Frontrunning: March 24

  • Trump Says If Vote on Health Bill Fails, Obamacare Stays (WSJ)
  • Risky House healthcare vote to test Trump's negotiating skills (Reuters)
  • Trump Dares GOP in High-Stakes Vote on Troubled Health Bill (BBG)
  • All drill, no frack: U.S. shale leaves thousands of wells unfinished (Reuters)
  • Twitter explores subscription-based option for first time (Reuters)

Trump Approves TransCanada's Keystone XL Pipeline

It's official: moments ago TransCanada said the U.S. Department of State issued a presidential permit for the construction of the Keystone XL Pipeline, ending a multi-year controversial, at times acrimonious debate over the future of the pipeline linking Canadian oil sands to U.S. refiners.

Biggest US Equity Outflows Since Brexit; US Banks Hit The Hardest

The latest evidence that rumors of Trumpflation trade's death are not greatly exagerated came overnight from Bank of America which reported that based equity funds saw net outflows of $8.9 billion, the largest in 38 weeks. The most impacted sector was, not surprisingly, banks - the biggest beneficiary of the post-Trump election victory rally, which suffered the biggest outflows in over a year.

Russia Unexpectedly Cuts Interest Rates For The First Time In Seven Months

The Russian Central Bank surprised markets when it unexpectedly cut interest rates by 25 bps to 9.75% (30 economists expected no change, 8 predicted a 25 bps cut), its first rate cut in four meetings or 7 months, as inflation, which has dropped from a peak of 17% to just 4.6% last month, appears to be under control.

All Eyes On Washington: US Futures Rise On Hope Healthcare Vote Will Pass

Asian shares and S&P futures rose on optimism that today's rescheduled U.S. vote on health care will pass following Trump's Ultimatum to the Freedom Caucus. European stocks gave up some of Thursday’s gains, falling for the fourth time in five days, and moving further away from a 15-month high reached a week ago while the yen weakened for the first time in nine days.

NSA To Provide "Smoking Gun" Proof Obama Spied On Trump

"Republican congressional investigators expect a potential “smoking gun” establishing that the Obama administration spied on the Trump transition team, and possibly the president-elect himself, will be produced to the House Intelligence Committee this week."

Swedes Begin Construction Of Police Fortress In "Little Mogadishu"

In 2014, they had to close down the Rinkeby police station, as it had originally been built for an all-Swedish community, where the main job of policemen is to look for lost pets and help old ladies cross the street. The new police station, which is being built under heavy security and is scheduled to open in 2019, will cost over $40 million...

16 Years Of European Terrorism In One Chart

Europe has suffered many Islamist terrorist attacks in recent years, but before the assault on Charlie Hebdo, only two of them caused more than ten deaths: the Madrid train attack in May 2004 and the London tube and bus bombings 14 months later. Since then, and the beginning of the global 'war on terror', things have become exponentially worse...