An incredible interest rate repricing - what comes next?

We've seen the fallout from higher for longer and a deeply inverted yield curve - with the failing of SVB Financial and Signature Bank in the US.

The market has punished financials feeling we could see far more conservatives lending and tighter regulations - interest rate hikes have come out of the markets, resulting in some of the biggest moves in US Treasury yields in living memory. FX volatility has increased but is not extreme and the USD has been offered - but have the moves gone too far?

With US CPI in play, we look at the cross asset setups and assess the flows and trades front of mind.