Libor, TED Break Down Trend

Up until today, the credit indicators had been steadily thawing. Not surprisingly, that ends here:

Bloomberg: The London interbank offered rate, or Libor, for overnight dollars climbed 7 basis points to 1.28 per cent, the British Bankers’ Association said.

The three-month rate dropped 2 basis points to 3.52 per cent, the BBA said today.

Meanwhile, you can check out the TED spread here, ticking up over 3%. It’s still down violently from its highs.

On CNBC just a moment ago, PIMCO co-CEO Mohamed El-Erian says he told his wife at 2:30 AM, “Today is going to be a special day.” (Boy, If we tried something like that.

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