Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with Jim Kramer, David Faber at Post 9 of the New York Stock Exchange.

We are waiting for remarks from the president about the banking system after the collapse of Silicon Valley Bank.

And historic moves to protect depositors, extend emergency lending, relaxing terms of the discount

window, big implications for bank regulation, tech funding, and the Fed's rate path, which the market

now sees with better odds of no hike this month, Jim. Two, three handles to watch today,

intraday. One was the two-year.

The other is the VIX.

Right.

Look, I think that you have to separate what's going to happen today and tomorrow by what we will be thinking about a week from now.

And David and I were discussing the fact that it's very difficult for the Fed to hike.

And if we knew that, we would be buying a huge number of stocks that did not have any credit risk.

David, I think you agree with me that there are some banks that are in trouble that haven't been solved yet,

but will be solved because of what happened last night.

Definitely.

But there's a lot of fear in the system.

And there's a lot of fear also that the, right now that some of the companies that need, let's say that need these pre-IPOs,

excuse me, same suit, number of companies that need these IPOs, these companies, will no longer

get the business. Right. Right. So there are biotechs that

some companies won't get the business, but chiefly tech companies that were relying on selling

to these pre-opio companies. Listen, it's a fascinating morning for any number of reasons, including, as

you just said, if we were operating in a vacuum right now with the move we've seen in the two-year, for example, and suddenly this consensus that the Fed may be done, we would be up. I don't even know, Carl, percentage-wise, as we watched the president come in.

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