DOES WALL STREET CARE ABOUT THE SOTU? — Not according to the half dozen or so traders and money managers MM emailed with on Monday.

Here’s Cumberland Advisers’ David Kotok summing up the general Wall Street view: “It matters for a lot of things but not for markets. Markets have become used to Trump-talk-tweet and mostly ignore the bluster. Markets today are much more worried about rising bond yields and trade wars.

“But markets have already heard Trump talk a protectionist line. Only a dramatic announcement could change that. I’ve had three Congressman privately tell me that they will be at SOTU but consider it really to be a wasted day.”

Read the full article at POLITICO.