Banking optimism boosts stocks and treasury yields.

Global stocks and US bond yields rose as a US regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank eased wider worries about problems in the sector. Top US banking regulators said they planned to tell Congress that the overall financial system remains on solid footing after recent bank failures, but will comprehensively review their policies in a bid to prevent future collapses. Oil prices rose more than $3 on Monday as a halt to some exports from Iraq's Kurdistan region added to worries about oil supplies while a US banking acquisition eased worries that financial turmoil could hurt the economy and curtail fuel demand.