online.wsj.com - 10/30/2008
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LONDON -- Three-month U.S. dollar funding costs fell Thursday, continuing the trend of lower daily fixes since the peak on Oct. 10. According to data from the British Bankers' Association, three-month U.S. dollar Libor fell to 3.1925% from Wednesday's fixing of 3.42%. The rate peaked at ...
paul.kedrosky.com - 10/30/2008
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paul.kedrosky.com —
Nice Bloomberg chart of how market liquidity has
trended over recent years, with things currently remaining highly...
restrictive in historical terms: More here .
(more)
Liquidity Then and Now
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Credit Crisis Indicators: Mixed
Calculated Risk —
LIBOR declined today from the WSJ: According to data from the British Bankers' Association, three-month U.S. dollar Libor fell to 3.1925% from Wednesday's fixing of 3.42%. The rate peaked at 4.81875% on Oct. 10. The ...
Thursday links: change is good
Abnormal Returns —
... a game a charades, in which management gets asked the same question in fifteen or twenty different ways.” (Jeff Matthews)
Tales of financial incompetence. (Market Movers)
TIPS spreads are signaling deflation. Does that make any sense? (Trader’s Narrative)
Credit market measures are improving. (MarketBeat, WSJ.com, Calculated Risk)
Knock on effects of the ...
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Three Month Dollar Libor Increases
nakedcapitalism.com 10/10/2008 — Nearly two weeks ago, it was becomimg apparent that central bank liquidity operations were not merely ineffective, but had become counterproductive in getting banks to lend to each ot her. As FT Althaville noted: Liquidity is being thrown at the ...
Libor-OIS, TED Spread Improving…
aleablog.com 10/20/2008 — Libor-OIS: 293 bp (previous 331 )
TED Spread: 327 bp (previous 399 )
Rates used:
Libor 406 (previous 442
OIS: 113 (previous 111)
T-bills: 79 (previous 43)
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“Unlimited” Dollar Liquidity
aleablog.com 10/14/2008 — Nothing like “unlimited” dollar liquidity to send Libor to a new high of 482 bp.
OIS-Libor: 365 bp at record
TED Spread: 464 bp new record
Fed press release :
In order to provide broad access to liquidity and funding to financial ...
"Are Central Banks Making Libor WORSE?"
nakedcapitalism.com 10/12/2008 — Equity analyst and market commentator James Bianco of Arbor Research e-maileda a discussion of the breakdown of interbank lending to us along with a few others, His note illustrates a point made by FT Alphaville a couple of weeks ago that we have ...
Bonds
bloomberg.com 10/7/2008 — Libor Rise to Boost Subprime ARM Defaults 10%, Citigroup Says By Jody Shenn Oct. 7 (Bloomberg) -- Increases in benchmark London interbank offered rates may boost homeowner defaults on resetting adjustable-rate mortgages, contributing to a ``vicious ...
Money Markets Still Frozen, Dollar Libor Reaches New High
nakedcapitalism.com 10/9/2008 — Over the last two weeks, we have said that central bank liquidity measures had become counterproductive. Throwing more liqiudity at banks made it more viable for them to depend on monetary authorities and not rely on private sources for funding, and ...
You Cannot Patch a Busted Dam With Water
globaleconomicanalysis.blogspot.com 10/10/2008 — The global economic dam has now cracked wide open. Water is pouring everywhere. The bursting of the dam is a fitting tribute to Paulson's and Bush's $700 billion boondoggle to add liquidity to banks. The public was overwhelmingly against the plan (and ...
Cancerous Activity of the Fed and Treasury
globaleconomicanalysis.blogspot.com 10/9/2008 — Lending remains in a deep freeze as the Libor Dollar Rate Jumps to Highest in Year . The cost of borrowing in dollars for three months in London soared to the highest level this year as coordinated interest-rate reductions worldwide failed to revive ...
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