Go to this link and look at the 5 year interactive chart
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I certainly think so. Why would bankrupt companies lend to other bankrupt companies when the Fed isn’t footing the bill. Have been posting about this for some time.
Sold half on Thur. and half again on Fri.. So FUCK YOU TEA BAG!!!
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Hey TWJP,
Have you read any articles on LIBOR manipulation ?
I read quite a bit about the subject a few months ago. Don’t remember the specifics other than banks that are in European countries where yields are blowing out are paying way more than LIBOR suggests.
Apparently there is an overnight swap rate that is supposed to give a clearer picture. Can’t remember which one.
I have read a few recently, the main one that stuck was about how they want to pass more regulations on it because it is a huge advantage to be able to set it with regards to your fixed income trading and interest rate swaps. I suppose this stems from you being able to model the rate a lot more accurately if you are a contributor to setting it, I think it’s something like 19 banks that do it so knowing 1 of those 19 will give you a significantly more accurate estimate. I will see if I can dig them up tonight and will post them here.
Left – I believe the overnight swap is the rate the FED gives banks to deposit with it or charges for loans. The overnight rate is essentially the shortest duration of lending so a tool used to set interest rates for the market.