QUICK OVERVIEW

• U.S. stocks slid for the week as investors worried about Trump's ability to implement his economic policies -measures of risk are rearing their heads back up… 

•  Gold futures rose as investors continued preparing their positions for the UK to exit the Euro-zone. 

• Electricity company Dayton Power & Light said on Monday it would shut down two coal-fired power plants in southern Ohio next year for economic reasons, a setback for the ailing coal industry but a victory for environmental activists 

• Sales of single family homes in January posted a 10-year high of 5.04 million units. There are 3 percent fewer homes on the market than a year ago, with the median home value hitting its highest point since June 2007, according to Zillow's February Real Estate Market Reports.

• Intel ships first 3DXP storage drives. This could be very big for INTC and MU over the next --- ? --- years.
  
  
   

U.S. house prices were nearly flat in January, according to FHFA index. Year-over-year increase was 5.7% 

The Federal Reserve is playing with fire by lifting rates by Ambrose Evans-Pritchard

On the face of it, a 1% rate is risibly low a full eight years into the economic expansion. It is deeply negative in real terms. Savings are being whittled away.

Stephen Hawking points to artificial intelligence as a defining reason for needing stronger forms of globally enforced cooperation.

QUICK OVERVIEW

• At its policy meeting on March 15, 2017, the Fed increased the benchmark interest rate, known as the federal funds rate, by 0.25%, or 25 basis points. The rate is now 0.75–1.00%, or 75–100 basis points. 

• The Producer Price Index for final demand increased 0.3% in February. Final demand prices rose 0.6% in January and 0.2% in December. In February, the final demand services index increased 0.4% and prices for final demand goods moved up 0.3%. 

• Australian Bureau of Meteorology said that there was an "increased chance" of El Niño occurring this year, with six of the eight prediction models suggesting thresholds may be reached by July. 

• (Economist) The number of American oil rigs has risen to 617 from 386 a year ago. 

•  One in four Americans believe we are living in the end times.

Baltic Exchange Dry Index (BDI) is up-to-date

Chinese Scientists Genetically Modify Human Embryos


and so it begins..

QUICK OVERVIEW

• U.S. Total non-farm payroll employment increased by 235,000 in February, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported. Employment gains occurred in construction, private educational services, manufacturing, health care, and mining. (Thx Obama)

• The Eurozone base interest rate, namely the interest rate on main refinancing operations, will remain at 0.00 percent, with the marginal lending rate and deposit rate remaining at 0.25 percent and minus 0.40 percent respectively. 

• Brazil's economy shrank by 3.6% in 2016. This follows a contraction of 3.8% in 2015. Making this the most severe recession on record. But things are now looking up...

•  “If you're looking to the Congressional Budget Office for accuracy, you're looking in the wrong place." – so declares Sean Spicer. Forestalling a report that isn’t favorable to Republicans, Trump and R’s are actively looking to delegitimize the agency’s credibility. 

•  Scott Pruitt, head of EPA: Carbon dioxide not a contributor to climate change… 

•  Snap, Inc. went public and sold stock to “investors” without voting rights. Yup, Snap just issued stock that does not vote. Question: is stock that cannot vote - still stock? (Interesting times indeed!)

• U.S. Productivity increased 1.3 percent in the non-farm business sector in the fourth quarter of 2016; unit labor costs increased 1.7 percent (seasonally adjusted annual rates). In manufacturing, productivity increased 2.0 percent and unit labor costs increased 2.4 percent. 

• (Reuters) China's major corn producing regions are urging Beijing to give more financial aid to farmers and accelerate efforts to boost demand for grain as farmers struggle with low prices and nascent steps to get rid of its ageing, bulging stockpiles stumble.

•  (World Gold council) Indian Gold demand will recover from las year: Last year Indian demand fell to it is lowest level since 2009, rocked by a barrage of policy initiatives and a soaring gold price. But the outlook is better – we expect Indian demand to be between 650-750t in 2017. 

•  Signs of slowdown grow as Britain gears up to trigger EU divorce. Separate data from market research firm Kantar Worldpanel showed the inflation rate for groceries doubling in the space of a month as prices for food staples including butter, tea and fish all rose.

• The world has lost more than 1,000 rhinos per year for the past 3 years in South Africa. No end in sight to poaching... 

• Amazon told USA TODAY that Echo’s design precludes snooping. The Echo keep less than 60 seconds of recorded sound in its storage buffer. As new sound is recorded, the old is erased. So there's no audio record made of what went on in a room where an Echo sits. 

•  The Economist explains: Why diamond production may be about to peak 

• According to Swiss Re, low interest rates have cost U.S. Savers about $1 trillion from 2008 to 2015.