Interbank lending eases further
The Ted spread, along with overnight and three-month Libor, fell for the fourth day in succession after European governments announced bailout packages on Monday, and the US followed suit on Tuesday.
Three-month dollar Libor decreased from 4.50% to 4.42%, euro moved from 5.08% to 5.02% and sterling dropped from 6.18% to 6.16%.
The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, fell to
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