Ted spread moves up
The Ted spread and overnight borrowing costs were up today as the interbank lending markets began to reflect poor economic news.
In the overnight markets, US dollar borrowing costs moved up to 1.27% from 1.21% yesterday. Sterling climbed to 4.75% from 4.55% while euro rates decreased slightly to 3.55% from 3.56%.
Three-month dollar Libor fell from 3.53% to 3.52%, while the euro remained stable at 4.91% and sterling dropped from 6% to 5
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