RTRS: Dollar interbank rates steady, 2-yr US swap rate narrows
LONDON, Nov 18 (Reuters) - Interbank lending rates for
three-month dollar funds held broadly steady and the two-year
interest rate dollar swap spread narrowed slightly on Tuesday,
Reuters data showed.
In early London trading on Tuesday three-month dollar
deposit rates were indicated in a 2.1-3.3 percent,
compared with a 2.2-3.3 percent range early on Monday in London.
Late last week, London interbank offered rates for
three-month dollar funds (Libor) snapped a month-long streak of
daily falls and on Monday were little changed. Tuesday's Libor
fixing, carried out by the British Bankers' Association, will be
between 1100 and 1200 GMT.
In early trading on Tuesday three-month sterling deposit
rates were indicated in a range of 3.19 to 4.79
percent compared with 3.15 to 3.95 percent early on Monday, and
three-month euro deposit rates were at 3.97 to 4.22 percent,
edging down from 4.0 to 4.25 percent on Monday .
Interbank deposit rates and Libor are only indicative prices
of where banks are lending to each other, which institutions use
as a base to set their own lending rates.
The two-year U.S. swap spread narrowed to 105 basis points
from 106 basis points in late trading in New York on Monday.
