US futures are indicating a lower open. European equity markets have opened with losses, following mixed sessions in Asia. Longstanding themes remain in focus with markets continuing to digest risk of recession from inverted yield curves, though mitigating banking stress and reduction in stock and bond market volatility has helped sentiment. Markets now fully pricing in 25bp hike in May, while chances of a dovish pivot later in 2023 are all but extinguished.
Companies Mentioned: Paramount Global, PacWest Bancorp, First Citizen Bancshares, SVB