Interbank lending remains steady
The interbank lending markets were stable this morning. The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, was at 2.18% at 12.50pm London time today, unchanged from Friday's close.
In the overnight markets, US dollar Libor moved to 1.1% from 1.16% on Friday. Sterling borrowing costs remained at 3.01% while euro rates decreased slightly to 2.93% from 2.94%.
Three-month dollar Libor fell to 2.21% from 2.22%, while the cost of borrowing euros increased to 3.87% from 3.85%. Sterling rates dropped to 3.87% from 3.91%.
The Chicago Board Options Exchange Volatility Index (Vix), which measures the implied volatility of S&P 500 index options, closed at 55.28 on November 28, up from
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