"Fear index" hits high as Ted spread breaks 4%
The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, hit yet another all time high today, reaching 4.03% at 1400 BST.
Overnight US dollar Libor increased sharply to 5.37% at its fixing this morning from 3.94% yesterday. But the trend was not reflected in Europe - the sterling
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