Money Markets

October 6th, 2008 7:30 am | by John Jansen |

The moment of good feeling in the money markets which I referenced on Friday has evaporated. My money market source says that the headline news from Europe has overwhelmed the markets and fear is once again ascendant.In addition to the widely disseminated headlines there are other stories percolating below the surface which have also contributed to the dire glum mood.

S and P has down graded Swedbank, a Swedish mortgage bank.

Fitch has downgraded Baltic banks.

There was some small relief in Libor this morning. Overnights set higher at 2.37 versus about 2.00 percent Friday. However, the key 3 month rate declined 5 basis points to 4.29 percent from 4.34 percent.

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  1. 3 Responses to “Money Markets”

  2. By Jesper on Oct 6, 2008 | Reply

    Hello

    Just two correction. Denmark increased deposit insurance fully, not Sweden. Sweden upped to SEK 500t. Swedbank is both a commercial bank and have a mortgage company like most of the other Swedish banks.

    Jesper

  3. By John Jansen on Oct 6, 2008 | Reply

    thanks you

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