Strain eases on interbank lending
The Ted spread, as well as overnight and three-month Libor, continued to fall today following the announcement of US and European bailout packages.
Three-month dollar Libor dropped from 4.63% to 4.55%, euro moved from 5.22% to 5.17% and sterling fell from 6.25% to 6.21%.
The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, dropped to
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