Ted spread drops to monthly low
The strain on the interbank lending market eased further today as the Ted spread reached its lowest rate for almost a month and Libor continued to fall.
In the overnight markets, US dollar borrowing costs moved to 1.27% from 1.51% yesterday, euro rates dropped to 3.55% from 3.57% and sterling decreased from 4.77% to 4.75%.
Three-month dollar Libor dropped from 4.06% to 3.82%
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