Wednesday's global agenda: Egypt votes, Iran negotiates

Europe: Meanwhile in Europe, a showdown is expected between French President Francois Hollande and German Chancellor Angela Merkel over euro bonds during this evening's EU summit in Brussels [Reuters].

Maritime law: The Senate Foreign Affairs Committee holds a hearing this morning on accession to the Law of the Sea Treaty. Testimony by Secretary of State Hillary ClintonHillary Diane Rodham ClintonTrump can save Republicans and restore sanity to California in 2018 Breitbart News denies readership drop, alt-right label Mellman: The next war MORE, Defense Secretary Leon Panetta and Chairman of the Joint Chiefs of Staff Martin Dempsey will drive home that this is a priority for the White House.

China: In the afternoon, the Senate banking committee's panel on international trade and finance meets to review the U.S.- China Strategic and Economic Dialogue. The hearing follows Secretary of State Hillary Clinton and Treasury Secretary Tim Geithner's visit to Beijing for the annual high-level meeting earlier this month.

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