Euribor – December 2008 |
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Comment: Investors currently view two-year Treasury paper as the ultimate safe-haven because anything shorter is distorted by chaotic money markets. This has led to a sudden sharp steepening of the yield curve, and a reappraisal of thirty-year Bunds, while the spread over US has (and should continue) to narrow. Mounting year-end pressure interbank sees Euribor calendar spreads close to their most inverted ever, with no let-up in sight. Three-month Libor (creeping up to 5.303%) over Bubill
Filed under: Technical
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