Consumer Confidence

"Are You Ready For Greed?" Morgan Stanley Asks

"We think a scenario where retail investors, corporates and financials all get much more optimistic at the same time needs to be respected. As TABX cratered and credit markets wavered in early 2007, the S&P 500 went on to make new highs, not peaking until October. Greed is a powerful force. We are trying not to forget that."

“We Are Here To Fight” - Mexican Migrants Said To Prefer Arrest Over Deportation

The majority of migrants at the meeting in Phoenix, which included Mexican officials, signaled in a show of hands that they were ready to fight deportation in U.S. courts. “Even if that means detention for weeks?” asked former foreign minister Jorge Castaneda. “Even if it takes months,” shouted one woman. “Even if it takes years,” another yelled. “We are here to fight."

Consumer Confidence Tumbles As Democrats' "Hope" Plunges Near Record Lows

After a couple of months of animal-spirit-inducing exuberance in soft-survey-hope-data, UMich consumer sentiment printed a disappointing 95.7 in Feb (versus 98.0 exp and down from 98.5 in Jan). The biggest driver was a notable drop in 'hope' as Democrats Expectations plunged near record lows.

The Senate War Against Border Tax Begins

Today, the war against BAT fired its first salvo, when the previously profiled Senator David Perdue of Georgia, former CEO of discount retailer Dollar General, emerged as the top Republican critic of the House GOP plan to adjust business taxes at the border, threatening the divisive proposal's legislative prospects.

Key Events In The Coming Week

It is a relatively light week in the US, with mainly trade balance, JOLTS and consumer credit data out. The key economic release this week is University of Michigan consumer sentiment on Friday. In addition, there are a few scheduled speaking engagements from Fed officials this week. 86 S&P 500 companies reporting, representing 11% of the index market cap