WSJ:Key Dollar And Sterling Borrowing Rates Fall; Euro Unchanged
By Nick Cawley
The cost of borrowing dollars and sterling for three months in the London interbank market fell Tuesday, while the corresponding euro rate remained unchanged.
Data from the British Bankers' Association showed that the three-month dollar London Interbank Offered Rate, or Libor, fell to 0.36350% from 0.36725% on Monday.
The spread between the three-month dollar Libor and overnight index swaps--a barometer of market stress--fell slightly to 22.4 basis points from 22.9 basis points on Monday.
The sterling rate fell to 0.61500% from 0.62125%, while the euro rate remained unchanged at 0.15286%.
