Market Rallies 3 1/2% in Seven Trading Hours: How Did You Do?
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Submitted by A Dash of Insight
For several weeks at “A Dash” we have tried to highlight the importance of the bond insurance companies. It is difficult for the market to rally without any strength in financial stocks. Since the financials have insurance (credit default swaps) with the monoline insurers, all of these companies will be forced to take write-downs in various positions if the credit ratings of the insurers is reduced.
