S&P says the 1Q loss won't impact Ambac's rating, claiming that the loss was within their projections. It isn't on their website yet. More commentary as it becomes available.
We used to have fun commenting about the bond market, including Treasuries, Mortgages, Municipals, and Corporates. But that was before the dark times. Before deleveraging. Contact the Author: accruedint at gmail.com