Ted spread continues to climb

At 1300 BST today the Ted spread hit 4.13%, up from a record 4.03% at 1400 BST yesterday, and up 0.22% from 3.91% at yesterday's close. Overnight US dollar Libor dipped slightly to 5.09% after a sharp increase from 3.94% on Tuesday to 5.37% yesterday. In Europe, the sterling and euro rates both dropped from 5.82% to 5.42% and 4.35% to 3.95% respectively. Three-month dollar Libor climbed today from 4.51% to 4.75%, while three-month euro Libor and sterling Libor both climbed slightly from 5.38