Libor Update: Still Frozen (://URLFAN)

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Libor Update: Still Frozen

Post Date: Oct 01, 2008 2:05 p.m.
Ranked website: usmarket.seekingalpha.com (Ranks #73204 of 3,783,534)

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Felix Salmon submits: Overnight Libor came down today, to Extremely High from Utterly Ridiculous. But three-month Libor went up : it’s now 4.15%, which means that TED’s at 334bp -- or as it’s referred to these days, "frozen". (No interbank lending is actually going on at these, or any, levels.) More worryingly, euro Libor is higher still, on both fronts -- and that’s after Ireland’s decision to guarantee just about any conceivable liability of all the country’s major banks. Complete Story »

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