Several Wall Street head honchos made it down to Washington D.C. to testify in front of a bipartisan panel tasked by Congress to determine financial crisis causes and what regulation is needed to prevent similar events. Click here for New York Times story.
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Financials
Treasuries gain as Spanish finances add to European debt concern
Treasuries rose amid concern the European debt crisis will worsen as Spain’s regional governments are said to be struggling with finances, stoking demand for government debt.
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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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