Good Morning Traders, it is Monday the 13th of March, a day full of EuroGroup meetings.
Here are some things to look out for ahead of today.
Sentiment
Customers of Silicon Valley Bank will be able to access all of their funds on Monday, including both insured and uninsured savings. This is a huge relief for the majority of the IT sector, which had chosen SVB as its go-to bank.
S&P futures increase on the SVB backstop and rate bets change as markets close.
With the abrupt failure of Silicon Valley bank, investors are reducing their expectations on central bank tightening, with predictions becoming stronger that Australia will announce a pause next month.
As trading began in Asia, short-end treasuries rose as expectations for more aggressive US rate hikes were moderated by the failure of Silicon Valley Bank.
As US regulators attempted to reassure depositors that their money is safe following difficulty in the banking sector, reducing concerns about the unrest spreading across markets, oil prices rose at the start of the week.
Good Luck Today Traders!
