US markets mostly up overnight. S&P 500 up on news First Citizens BancShares would take on deposits and loans of failed Silicon Valley Bank, while tech-heavy Nasdaq closed down after a bit of pullback in big tech. Treasuries weaker, with the 2-year yield back over 4%, and both S&P 500 Banks Index and KWB Regional Banking Index finished up 3.1% and 0.6%, respectively. Dow Jones up 195 points (+0.60%). Dow up 326 at best. S&P 500 up 0.16%. NASDAQ down -0.47%. VIX Volatility Index down 5.9%. In Europe, STOXX 50 +0.8% FTSE +0.9% CAC +0.9% DAX +1.1%. SPI Futures are up 29 points (+0.41%).

First Citizens BancShares has agreed to acquire all the deposits and loans of failed Silicon Valley Bank in a deal that includes the purchase of ~$72bn of SVBs assets at a discount of 16.5bn. Shares in First Citizens BancShares shares up 53.74% following the rescue of the largest bank collapse since the 2008 financial crisis.

• ASX to rise; Brookfield pledges to speed up Origin energy transition.
• S&P 500 ends up slightly; SVB deal lifts bank shares
• Wall St equities gain, Treasury yields rise as bank worries ease
• Walt Disney Co begins 7,000 layoffs
• Tesla faces new race bias trial from employee who had $137 mln verdict cut
• Amazon loses bid to toss consumer antitrust lawsuit
• Silicon Valley Bank deal offers beleaguered banking investors relief
• World Bank warns of 'lost decade' in global growth without bold policy shifts
• US regulator sues top crypto exchange Binance, CEO for 'willful evasion'
• Oil rises over $3 on Kurdistan export halt, banking optimism
• Copper edges higher as Wall Street banking fears ease
• Gold slips more than 1% as risk appetite improves
• Iron ore snaps losing streak, but China demand jitters linger
• Ukraine shuts 'post-apocalyptic' battlefield town to civilians

ON THE CALENDAR

• Domestic data: Retail sales, RBA Connolly Speech.
• US data: Dallas Fed Manufacturing Index.

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