The 3-Month Eurodollar LIBOR Rate Edged Higher On The Week
The 3-month Eurodollar LIBOR rate edged higher on the week, while the 6-month rate edged lower. The 1- and 12-month rates moved sideways.
On the day, the 6- and 12-month rates sank lower, while the 1- and 3-month rates were unchanged.
The 3-month TED spread expanded on the week and held steady on the day.
Image courtesy: Wall Street Journal Online
Right now, the yield on the 3-month U.S. Treasury Bill is 0.14%. Therefore, the 3-month TED spread is currently 0.16438 percentage point; it was 0.16438 yesterday, 0.15313 last Friday and 4.60875 on October 10, 2008 during the worst of the global banking 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.
On the day, the 6- and 12-month rates sank lower, while the 1- and 3-month rates were unchanged.
The 3-month TED spread expanded on the week and held steady on the day.
Image courtesy: Wall Street Journal Online
Right now, the yield on the 3-month U.S. Treasury Bill is 0.14%. Therefore, the 3-month TED spread is currently 0.16438 percentage point; it was 0.16438 yesterday, 0.15313 last Friday and 4.60875 on October 10, 2008 during the worst of the global banking 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, January 28, 2011
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