Florida

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.

Trump’s Shot Across China’s Bow

"Trump’s purely symbolic shot across the bow, as an answer to all of China’s more-or-less purely symbolic boundary pushing in the Western Pacific, should, in fact, actually help the Chinese stay out of trouble, by putting them on notice that actions do have consequences, that there actually are costs to trying to repeatedly pin a clown nose on the sheriff."

Payrolls Preview: Unemployment Rate Expected To Drop (But Blame The Weather & Calendar If Not)

A series of stronger than expected data in recent days pushed Goldman Sachs to up their payrolls growth expectation to 200k (above the 180k expectations), but they note that while the unemployment rate is likely to drop (to 4.8%), average hourly earnings may disappoint. Of course, they add, any non-narrative-confirming misses on the data can likely be explained away by "weather effects and residual seasonality."

"Shell-Shocked" Democrat Donors Concerned At Rudderless DNC: "I May Well Be Done With Political Giving Entirely"

"The feeling I get from big donors out here in California is that... they’re shell-shocked," warns investor Marc Nathanson, who spent big in 2016, adding that he has no interest in participating in the party’s rebuilding efforts. As The Hill reports, many Democratic donors still feel burned by the party’s 2016 election losses and what they see as dysfunction in the DNC. "They’re tired," said one DNC official fingering the blame elsewhere, "they’re upset about the election, and there was significant trauma surrounding the Russians."