We've seen a spate of mergers in recent weeks/months, and not just in the consolidating Financial sector.
Today Disney (NYSE:DIS) announced it was acquiring Marvel Entertainment (MVL), and oil services company Baker Hughes (BHI) announced the acquisition of competitor BJ Services (Pending:BJS).
The renewed takeover activity (as well as increased IPO listings) seems to bode well for the market's continued stabilization and the debt markets remaining open and liquid. Companies are seeing value and snapping up competitors ... they may be using stock that has rallied recently, but remember that they are often buying companies that are well off their 2007/2008 highs.
Disclosure -- no position in the stocks mentioned.