Dollar borrowing costs up

The Ted spread - the spread between the three-month Libor interbank borrowing rate and three-month US treasury bill yields - increased to 2.10% at 13.15 GMT today from 2.05% at the open of trading today, representing only a slight decrease in perceived interbank counterparty risk from its close on Friday of 2.15%, before the Citigroup bailout was announced.

Overnight dollar borrowing rates rose again, up 0.12 percentage points today from 0.81% to 0.93%, and three-month dollar Libor increased from

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