First Republic is down over 22% in pre-market buying and selling and that is not a very good look as all the eye within the US is on the financial institution following the “liquidity injection” final week from the large boys. In the meantime, Western Alliance is down somewhat over 4% however Pacific Western is at the very least seen up 2% for now.

It is nonetheless early within the day and sentiment on this market can flip on a dime immediately. However as we get issues moving into Europe, it is all about risk-off now.