The One- and Three-Month Eurodollar LIBOR Rates Slid Lower On The Week
The one- and three-month Eurodollar LIBOR rates slid lower on the week, while the 6- and 12-month rates advanced. On the day, the one-, three-, six- and twelve-month Eurodollar LIBOR rates all declined. The 3-month TED spread contracted slightly on both the day and the week.
Image courtesy The Wall Street Journal Online
Right now, the yield on the 91-day U.S. Treasury Bill is 0.165%. Therefore, the 3-month TED spread is currently 0.33875 percentage point; it was 0.345 yesterday, 0.34 last Friday and 4.60875 on October 10, 2008 during the peak of the global credit crisis.
For the 3-month TED spread, a figure between zero and 0.50 percentage point (0.50 percentage point = 50 basis points) is a strong indication that large, international banks are lending money to each other with confidence.
A Eurodollar is a U.S. dollar deposited in any bank outside the United States.
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 91-day U.S. Treasury Bill is 0.165%. Therefore, the 3-month TED spread is currently 0.33875 percentage point; it was 0.345 yesterday, 0.34 last Friday and 4.60875 on October 10, 2008 during the peak of the global credit crisis.
For the 3-month TED spread, a figure between zero and 0.50 percentage point (0.50 percentage point = 50 basis points) is a strong indication that large, international banks are lending money to each other with confidence.
A Eurodollar is a U.S. dollar deposited in any bank outside the United States.
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, July 17, 2009
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