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Tuesday, October 16, 2007

Euro Libor Update 1

Basically, following up on this post earlier this month I wish to report that the 3 month euro libor rate is not only still stuck where it was, way above the ECB refi minimum bid rate, but even took a slight upward jolt last week. This rate gives us the best reading we can get on "sentiment" in the banking sector, and the outlook certainly has not improved at this point. Here is a chart with the latest data we have from the BBA:

I will continue to track this and update at regular intervals while the problem persists.

Incidentally, the BBA link to the libor data is here.

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