Seeking Alpha is reporting that Mark Palmer has reduced his estimate of National's potential loss risk on PR credits. Has also raised his price target to $13 from $12. Likely the source of strength in today's run to $7.00.
Excellent summary of where we are with PR. Think you may be on to something with buybacks; there have been volume spikes recently during the market run-off at close. This was part of the same pattern MBIA used in February.