S&P Takes Bond Insurer MBIA Off CreditWatch; Market Surges

February 25, 2008 at 1:14 pm  ·  Category: Market Commentary, Stocks

This is how it works peeps:

At 2:22:27pm EST, Standard & Poors, the ratings agency, issued new ratings actions on the bond insurers, including taking leading player MBIA (MBI) off of CreditWatch (“S&P Takes Additional Bond Insurer Rating Actions” (subscription required – free), February 25, 2:22:27pm EST).

Once that news became public, the bond insurers and the entire stock market surged higher (MBI Intraday Chart, ABK Intraday Chart, S&P Intraday Chart) – turning a mundane Monday into a more interesting one.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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