End of day Report March 21st

HIGHLIGHTS

-	US officials are studying ways to permit the FDIC to temporarily insure deposits beyond the current USD 250k cap on most accounts, without having to get approval from Congress.
-	Russian President Putin does not plan to meet with US President Biden following his meeting with Chinese President xi, via AJ Breaking citing a Russian aide
-	First Republic is considering downsizing options if the capital raise fails, according to sources cited by Reuters
-	Russia and China Statement: The two sides are concerned about the AUKUS Alliance, call on the US to stop trying to create a global missile defense system and undermining global strategic 
        stability
-	Some holders of Credit Suisse AT1 bonds are seeking legal advice after Swiss decision to wipe out their holdings, law firm says

SUMMARY

Light in the way of numbers today but also with a slight shift towards a possible 25bp hike tomorrow by the Fed lending firmness to the dollar and weaker SOFR and Treasuries. Good strength in the equity markets but it will depend on what the Fed do and what comes out of JPOW's mouth afterward that will determine the next move.