Bad news.
Ambac Financial Group Inc. and MBIA Inc., the largest U.S. bond guarantors, led declines after Fitch Ratings revoked its top ranking on Financial Guaranty Insurance Co.
The Standard & Poor's 500 Index had climbed as much as 1.7 percent following the Fed's decision to lower its benchmark lending rate to 3 percent from 3.5 percent to help the economy avert a recession.
Financial stocks seems attactive at these levels, but financial risk is still rising according to my model.
More on https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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