QUICK OVERVIEW

• Fed's Yellen: Immigration contributes a lot to labor force growth, U.S. economic growth potential looks a bit less than 2%. 

 

• The EU Parliament wants the European Commission to force the US to either institute full reciprocity on visa policy or face a temporary suspension of visa-free access. 

 

• The NAR said its pending home sales index, based on contracts signed last month, fell 2.8 percent to 106.4. The NAR reported last week that U.S. existing home sales hit a 10-year high in January as buyers shrugged off higher prices and mortgage rates. Buyers are easily outnumbering sellers in several metro areas, "Most notably in the West, it's not uncommon to see a home come off the market within a month". 

 

• The White House is seeking to slash the National Oceanic and Atmospheric Administration’s budget by 17 percent, imposing big cuts to research and satellite programs, according to a memo obtained by The Washington Post. 

 

• Today 2/28/17, we have rumors floating around that the Trump admin may raise the ethanol blend cap from 10% to 15% - White house denies, so far. Corn and Soy Oil are therefore a bit more volatile. 

 

• Fed's Williams: Right now, interest rates are abnormally low. Says Fed needs to get interest rates to normal.. 

 

• Irish whiskey volumes have grown a staggering 131% in the last 10 years, beating a 13% rise for scotch and 56% for bourbon 

 

•  Oh great, more military spending, less on environment. Which will probably mean we’ll need more and more military spending ... Trump "intends" to propose a fed budget that dramatically increases defense spending by $54 billion while cutting virtually all other federal agencies by the same amount… 

•  (Reuters)The head of the U.S. Federal Communications Commission does not expect to review AT&T Inc's (T) planned $85.4 billion acquisition of Time Warner Inc (TWX), a spokesman for the agency said on Monday. 

• Trump’s administration is mulling plans to circumvent the World Trade Organization. Incoming administration officials asked the U.S. Trade Representative’s office to find ways to bypass WTO rules on dispute resolution to levy unilateral U.S. sanctions against other countries such as China, sources tell the Financial Times.

• More than 7,000 people have died in the war on drugs since Philippine President Rodrigo Duterte took office. A politician who has investigated the leader fears for her life and has since been arrested. Her most important witness, a former hitman, is living in hiding in the rainforest.

• More than 120 retired generals and admirals have signed a letter warning the White House against making significant cuts to diplomacy and development.