Ted spread continues to climb
The Ted spread, which is used to measure perceived counterparty risk by tracking the disparity between three-month Libor rates and US Treasury bills, broke yesterday’s record high by 0.10%.
Overnight US dollar Libor dipped slightly to 5.09% after a sharp increase from 3.94% on Tuesday to 5.37% yesterday. In Europe, the sterling and euro rates both dropped from 5.82% to 5.42% and 4.35% to 3.95% respectively.
Three-month dollar Libor climbed today from 4.51% to 4.75%, while three-month euro Libor and sterling Libor both climbed slightly from 5.38% to
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