Tuesday takes away bond insurers Monday gains

Just yesterday I wrote about the bond insurers getting a Monday morning boost. 

But today, Standard & Poor downgraded both Radian and the PMI Group.  Today’s credit rating cuts erased yesterday’s gains swiftly.  Shares of Radian dropped 6.9 percent and PMI lost 7.9 percent.

I suspected the boost would be short lived, but not this short!