US Feb industrial production +0.7% vs +0.2% expected

• Prior was +0.5% (revised to +0.3%)
• Ex cars/parts +0.4% vs +0.6% prior
• Capacity utilization 78.2% vs 77.8% expected
• Manufacturing output +0.9% vs +0.3% expected

This is a tough one to game out because factories could be front-running tariffs.