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.

Initial Jobless Claims Divergence Of The Week

Initial jobless claims rose modestly on the week but remain at the lowest levels since Watergate as it appears the labor market entirely ignores the demise of actual "hard" data since the election...

Spanish, French Bonds Jump After ECB Sees "Room For Trade Off On Capital Key"

While typically uneventful, this morning the release of minutes from the ECB's January 18-19 meeting prompted a spike in both French and Spanish bonds, with yields dropping between 6 and 8 bps after the ECB said that “limited and temporary deviations” from the capital key “were possible and inevitable.”

Frontrunning: February 16

  • Futures dip as Wall Street navigates unchartered territory (Reuters)
  • Trump's Russia crisis deepens (Reuters)
  • Government Landlord Pays Millions Each Year to Trump Company (WSJ)
  • Protests call for U.S. immigrants to stay home from work, school (Reuters)
  • Trump Hates Trade Deficits, But Which Ones Really Matter? (BBG)
  • French Election Puts ‘Frexit’ on the Agenda (WSJ)