Interbank confidence falls in the US, rises in Europe
The cost of dollar lending in the interbank market rose 17bp overnight, but the cost of euro and sterling borrowing was down marginally today.
The Ted spread, the difference between three-month dollar Libor and three-month US Treasury bill yields, had risen to 2.18% at 14:45 GMT from a close of 2.16% yesterday.
In the three-month lending markets, euro Libor fell to 3.85% from 3.87%, sterling Libor dropped from 3.93% to 3.91%, and
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