Interbank markets unmoved as Asian markets plummet

The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, dropped 0.009 points to 2.66%.

In the overnight markets, US dollar borrowing costs stayed constant at 1.27%. Sterling climbed slightly to 4.81% from 4.75% while euro rates rose to 3.56% from 3.55%. Three-month dollar Libor fell from 3.52% to 3.5%, while the euro fell a single basis point to 4.9% and sterling dropped from 5.98% to 5.95%.

The Chicago Board Options Exchange Volatility Index (Vix), which