U.S Market Update |
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- Indices are rebounding from Black Monday redux as buyers step in to snap up stocks on hopes that a fresh bailout deal can be hammered out soon. But the House's rejection of the financial bailout bill yesterday continues to loom over credit markets, inspiring a degree of panic among lenders. Libor rose the most ever, climbing 431 basis points to a record high of 6.88%, while Euribor also hit record highs at 5.05%, leaving central banks as virtually the only providers of cash to markets.
Filed under: Fundamental
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