CNBC is reporting that the US dollar Libor rate for 12-month money was offered at 2.7 per cent. This compares to 2.36 per cent on 2-year Treasury notes last week and 2.74 per cent on 10-year TNotes yesterday. Therefore banks operating in US dollars anywhere cannot fund themselves via the money market, park it in Treasuries, and earn their keep.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis