Just off a market call with Larry Summers. Paraphrasing, he does not see this as a systemic event, believes the market overreacted as the Fed has contained the contagion effects, and the effective monetary tightening of the event may take 25 to 50 bps off the current hike cycle. He thinks the Fed show still go 25 on March 22.

Looks like US 30 yr Bonds may close down on the day