Citigroup announced its sale of commodities arm, Phibro, to Occidental Petroleum. Among Phibro's assets is its head trader and leader Andrew J. Hall, who in the past has generated controversey for his $100 million bonuses. Click here for NYT story.
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Financials
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.
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ETFs
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.
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Forex
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.
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Options
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.
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