1-, 3-, 6- and 12-month Eurodollar LIBOR Rates All Eased Again Today
The 1-, 3-, 6- and 12-month Eurodollar LIBOR rates all eased again today, continuing the week's downward trend. The Federal Reserve cut the its target for the fed funds rate by 50 basis points (0.50 percentage point) today, which caused the U.S. Prime Rate to drop to 4.00%.
The TED spread is now 2.84 percentage points; it was 2.715 yesterday and 2.67625 last Friday. A TED spread of 1.00 percentage point or lower is considered within the normal range.
Image courtesy The Wall Street Journal.
A Eurodollar is a U.S. dollar deposited in any bank outside the United States, and therefore not subject to regulation by the U.S. Federal Reserve. U.S. dollars deposited in a London bank are Eurodollars, as are U.S. dollars deposited in a bank in Israel.
Click here for historical LIBOR values.
Click here for a chart that compares American benchmark rates to LIBOR.
The TED spread is now 2.84 percentage points; it was 2.715 yesterday and 2.67625 last Friday. A TED spread of 1.00 percentage point or lower is considered within the normal range.
Image courtesy The Wall Street Journal.
A Eurodollar is a U.S. dollar deposited in any bank outside the United States, and therefore not subject to regulation by the U.S. Federal Reserve. U.S. dollars deposited in a London bank are Eurodollars, as are U.S. dollars deposited in a bank in Israel.
Click here for historical LIBOR values.
Click here for a chart that compares American benchmark rates to LIBOR.
Labels: libor, TED_spread
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posted by Steve Brown | Wednesday, October 29, 2008
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