Yellen Pledges Confidence But Another Banking Weak Spot Emerges

Also, Republicans are homing in on SVB's China connections; hedge funds escalate criticism of SEC's Form PF Overhaul

While the markets seesawed and a number of regional lenders teetered, the Washington focus on the ferment plaguing the banking industry shifted to Capitol Hill. Appearing before the Senate Finance Committee (ostensibly to discuss the Biden administration’s 2024 budget) Treasury Secretary Janet Yellen declared that the financial system is “sound” and str…