Several media outlets have reported that the $700 billion bailout package for U.S. credit markets that appeared close to being done this afternoon has broken down. According to reports the so called agreement in principle broke down after a meeting of Congressional leaders at the White House this afternoon.
As of 8:00 p.m. central the E-mini S&P 500 is down more than 15 points from Thursday’s official close.
Banks urge EU lawmakers to back derivatives competition
Banks in the European Union are urging lawmakers to drop their opposition to plans for boosting competition in the clearing of derivatives trades.
ProShares launches ETF that targets highly rated corporate bonds
The ETF invests in covered bonds, a type of collateralized corporate debt typically issued by non-U.S. financial institutions.
Euro falls to 22-month low as German business confidence slides
The euro traded close to the weakest level since July 2010 versus the dollar as German business confidence slid and manufacturing shrank, stoking concern fallout from the debt crisis is spreading.
Crude options volatility rises as futures near $90 a barrel
Crude-oil options volatility rose for the first time in three days as underlying futures slipped below $90 a barrel.
