Tuesday takes away bond insurers Monday gains
Just yesterday I wrote about the bond insurers getting a Monday morning boost.
But today, Standard & Poor downgraded both Radian and the PMI Group. Today’s credit rating cuts erased yesterday’s gains swiftly. Shares of Radian dropped 6.9 percent and PMI lost 7.9 percent.
I suspected the boost would be short lived, but not this short!
Tags: bond insurers, downgrade, pmi, radian, standard & poorRelated Stories
POSTED IN: Corporate, Investment, Market, News
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