No LIBOR News Today Due to Good Friday Holiday
Today is Good Friday, which is a bank holiday in the United Kingdom, so there's no LIBOR news to report.
Image courtesy The Wall Street Journal Online
Right now, the yield on the 3-month U.S. Treasury Bill is 0.175%. Therefore, the TED spread is currently 0.95625 percentage point; it was 0.95625 yesterday, 0.96094 last Friday and 4.34 on October 15, 2008. For the TED spread, a figure between zero and 50 basis points (50 basis points = 0.50 percentage point) is a strong indication that capital is flowing through international credit markets normally.
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 e.g. Egypt.
There will be no LIBOR news on Monday, April 13 as well, as Easter Monday is also a bank holiday in the United Kingdom.
Click here for historical LIBOR values.
Click here for a chart comparing LIBOR to the Prime Rate and the target fed funds rate.
Click here to read about how U.S. Dollar LIBOR fixing works.
Right now, the yield on the 3-month U.S. Treasury Bill is 0.175%. Therefore, the TED spread is currently 0.95625 percentage point; it was 0.95625 yesterday, 0.96094 last Friday and 4.34 on October 15, 2008. For the TED spread, a figure between zero and 50 basis points (50 basis points = 0.50 percentage point) is a strong indication that capital is flowing through international credit markets normally.
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 e.g. Egypt.
There will be no LIBOR news on Monday, April 13 as well, as Easter Monday is also a bank holiday in the United Kingdom.
Click here for historical LIBOR values.
Click here for a chart comparing LIBOR to the Prime Rate and the target fed funds rate.
Click here to read about how U.S. Dollar LIBOR fixing works.
Labels: libor, TED_spread
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posted by Steve Brown | Friday, April 10, 2009
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