Governments step up and Ted spread goes down

At 1215 BST today the Ted spread had dropped 0.12% from 4.57% at close yesterday to 4.45%. At the opening of trade yesterday the Ted spread was at a record 4.64%.

For the second consecutive day, overnight and three-month figures of the London Interbank Offered Rate, or Libor, dropped across the board.

Overnight euro Libor fell today from 3.78% to 3.75%, while sterling Libor dropped from 5.60% to 5.43%. US dollar Libor, which was not recorded yesterday due to the celebration of Columbus Day, was

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