Some positive news in the financial sector gave a lift to the KBW Capital Markets (KCE) exchange traded fund (ETF).
Two of the biggest bond insurers, MBIA Inc. (MBI) and Ambac Financial Group (ABK), avoided rating downgrades, report Abigail Moses and Shannon D. Harrington for Bloomberg. Since that bullet has been dodged, investor sentiment toward the financial sector has gotten a small boost. The woes aren’t over yet, but investors will take the good news where they can get it, especially in this beleaguered sector.
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