The One-, Three- and Six-Month Eurodollar LIBOR Rates Sank Lower On The Week
The one-, three- and six-month Eurodollar LIBOR rates slid lower on the week, while the 12-month rate rose. On the day, the one-, three-, six- and twelve-month yields all waned. The 3-month TED spread contracted on both the day and the week.
Image courtesy: The Wall Street Journal Online
Right now, the yield on the 13-week U.S. Treasury Bill is 0.175%. Therefore, the 3-month TED spread is currently 0.30438 percentage point; it was 0.30813 yesterday, 0.32188 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 13-week U.S. Treasury Bill is 0.175%. Therefore, the 3-month TED spread is currently 0.30438 percentage point; it was 0.30813 yesterday, 0.32188 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 31, 2009
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