Ted spread rises and Libor rates drop across the board

At 1230 BST the Ted spread had dropped slightly to 4.57%, but was still up 0.34% from 4.23% at close on Thursday. Overnight and three-month figures of the London Interbank Offered Rate, or Libor, which measures the rate at which banks are prepared to lend unsecured funds to other banks, were both down today. Overnight Euro Libor dropped today from 3.90% to 3.78%, while sterling Libor fell to 5.60% from 5.81% on Friday. No overnight US dollar Libor rates were recorded due to the celebration o