The U.S. ten-year Treasury yield surpasses 3 per cent for the first time in fours years while stocks rally after the S&P 500 and the Nasdaq hit fresh lows for the year. The FOMC meets with expectations of a 50bps hike. Goldman Sachs CEO David Solomon says he believes the U.S. can avoid recession. Germany has said it will withstand a Russian oil embargo as the EU prepares a sixth package of sanctions against Moscow. In banking news, top HSBC stakeholder Ping An reportedly calls for the break-up of the lender while BNP Paribas beats expectations with Q1 profits surging 19 per cent. 

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