JPM's Kolanovic: Volatility Is About To Return, Could Lead To "Accidents"

JPM's quant guru Marko Kolanovic writes that "last September, we forecasted a short term increase of market volatility and equity outflows" and adds that "a similar set-up is developing now, this time driven by extremely low levels of market correlations... We believe correlation will start rising going into March."

Trump Withdraws Appeal Of Travel Ban Suspension, To Unveil New Immigration Order Next Week

During Trump's press conference, the president announced, among numerous other things, that he will issue a new executive action on immigration "next week sometime" which will be "tailored to the decision" issued by the 9th Circuit Court of Appeals, and will rescind the initial travel ban which has been challenged in legal battles across the nation.

Putin Orders Russian Media To "Cut Back" On Positive Trump Coverage

Vladimir Putin has ordered Russian state media to cut "way back" on their fawning coverage of President Donald Trump, in what three Bloomberg sources say is a "reflection of growing concern among senior Russian officials that the new U.S. administration will be less friendly than first thought."

President Trump Announces New Labor Secretary Pick - Live Feed

President Trump just surprised The White House press corps by announcing he will hold a press conference at 1230ET today to announce his labor secretary pick. For now we do not know if he will answer any questions, but given the tweets in th elast 24 hours, he certainly has lots to say...

Pentagon Chief Rejects Military Cooperation With Russia

Pentagon chief Jim Mattis on Thursday rejected any kind of military collaboration with Russia, despite a call by President Vladimir Putin for the West to work with his country on Syria and other issues. “We are not in a position right now to collaborate on a military level.”

China May Bar US Ships From Passing Through Its Waters

China is preparing to revise its 1984 Maritime Traffic Safety Law, which would allow local authorities to bar some foreign ships from passing through Chinese territorial waters. "As a sovereign State and the biggest coastal State in the South China Sea, China is entitled to adjust its maritime laws as needed, which will also promote peace and stable development in the waters."

Top Spy Agency Denies Withholding Secrets From Trump

"Any suggestion that the U.S. Intelligence Community is withholding information and not providing the best possible intelligence to the President and his national security team is not true." - ODNI

Key Events In Washington Today

While less exciting than yesterday, when Trump again praised his stupendous, "imminent" tax plan while meeting with retail CEOs complaining about border adjustment, before telling Netanyahu he is ok with either a one or "two-state" solution, all eyes will again remain focused on DC, and - of course - the biggest wildcard, Donald Trump.

Philly Fed Explodes To 33-Year Highs - A 10-Standard-Deviation Beat

Against expectations of a 18.0 print, February's Philly Fed exploded higher to 43.3 - the highest since January 1984. This is a 10-standard-deviation beat, led by a surge in new orders and the workweek, despite a decline in 'hope' and the number of employees.