Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares Assured Guaranty
So what: Specifically, Bank of America will pay $1.1 billion to Assured in order to settle its demands that the lending giant repurchase its bad mortgages. Along with the big hunk of cash, the settlement sheds some much-needed light on Assured's risk exposures and capital position, so it's no surprise that Mr. Market are becoming more comfortable with the shares.
Now what: Speculative investors might want to take a closer look at the sector. Bond insurers are up across the board today -- MBIA
Interested in more info on Assured Guaranty? Add it to your watchlist.