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In the U.S. today, markets were up on data showing existing home sales declined less than expected in February, however healthcare stocks gave back some of the gains from yesturday. The House passed legislation that is expected to bring insurance to 32 million , according to the Economist. The Economist also noted that "Obamacare does much to expand coverage, but little to rein in healthcare inflation."

Credit Suisse put out a piece on how Health care stocks might react in the near term to this new legislation. They expect HMO's rally to fade as they rallied last week and this group sees costs from reform 1st. They also expect Hospital's rally to fade as benefits won't start till 2014. C.S. expects Pharma to rally as they were the anti ralliers last week and expect Biotech to rally. Legislation was generous to them and they are a ripe group for merger and acquisition activity in the small to mid cap space.