North America

• Oil Drops With Emerging-Market Currencies on Rig Recovery Signs (BBG)
• A plea for help - How China asked the Fed for its stock crash play book (Reuters)
• Obama to meet Raul Castro on historic Cuba trip (Reuters)
• Wall Street's Pile of Unwanted Treasuries Exposes Market Cracks (BBG)
• Dimon's Timing Looks Savvier by the Day as Equities Rebound (BBG)
• Brazilians Brace for More Drama at Top Court, Congress (BBG)
• Captured Paris Terror Suspect Salah Abdeslam Says He Planned More Attacks (WSJ)

Today Janet Yellen and the FOMC will go back to square one and try to reset global expectations unleashed by the ill-fated December rate "policy mistake" hike, when at 2pm the Fed will announce assessment of the economy (even if not rate hike is expected today) followed by Yellen press conference half an hour later.

• Bank of Japan Holds Fire on Stimulus, Negative Rate Unchanged (BBG)
• Donald Trump Aims for a Knockout in Tuesday Primaries (WSJ)
• Global Stocks Fall on Commodities Decline, Ahead of Fed Meeting (WSJ)
• Oil prices fall as clouds gather over supply picture (Reuters)
• Many Shale Companies Are Unable to Ramp Up Oil Output (WSJ)
• Valeant Slashes Guidance, stock crashes (WSJ)
• Fed to sit tight on rates at March meet, hint at hikes to come (Reuters)
• Big Money Gets On China's Lifeboats (BBG)

Authored by Michael Klare via TomDispatch.com,

For the past month, the price of oil has soared by a 50% on no fundamental catalyst; in fact, the "fundamental" situation has gotten progressively worse with the record oil inventory glut increasing by the day even as US crude oil production posted a modest rebound in the past week after two months of declines, while the much touted OPEC/non-OPEC oil production freeze has yet to be discussed, let alone implemented.