The 1-, 3-, and 6-Month Eurodollar LIBOR Yields All Retreated Today
The 1-, 3-, 6- and 12-month Eurodollar LIBOR yields all waned today. The Fed established a target range of 0% - 0.25% for the fed funds rate earlier this afternoon. American banks responded by lowering their prime lending rate to 3.25%.
The yield on the 91-day U.S. Treasury Bill is currently 0.03%. Therefore, the TED spread is currently 1.8175 percentage points; it was 1.83125 yesterday, 1.91125 last Friday and 4.34 on October 15, 2008. For the TED spread, a figure between zero and 1.00 percentage point 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 El Salvador.
Click here for historical LIBOR values.
Click here for a chart that compares American benchmark rates to LIBOR.
The yield on the 91-day U.S. Treasury Bill is currently 0.03%. Therefore, the TED spread is currently 1.8175 percentage points; it was 1.83125 yesterday, 1.91125 last Friday and 4.34 on October 15, 2008. For the TED spread, a figure between zero and 1.00 percentage point 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 El Salvador.
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 | Tuesday, December 16, 2008
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