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LIBOR rates up sharply ?

13

Comments

  • dad-of-4
    dad-of-4 Posts: 390 Forumite
    I shouldn't think too many people were saying that at Lehmans this morning!

    very true, but Lehmans loss somewhere along the line, will be another banks gain, and as they gain the debtors signatures for a reduced price, they benefit form a reduced risk.

    eventualy the high-risk bad debts causing the problem become good low risk debts.

    How ironic that eventualy the high risk people who should have never been given a loan, become a low risk investment with a huge return, and the debtor will still think hes subprime:rotfl:

    looks like its WIN WIN WIN all the way to any bank that can go the distance.
  • Paul_N_4
    Paul_N_4 Posts: 344 Forumite
    Paul_N wrote: »
    LIBOR has gone from around 5.05% (where it had stabilized for the last couple of months), up to 5.5% today. Back to where it was around March.

    Libor jumped from 5.5% yesterday to 6.8% today :eek:
  • posh*spice
    posh*spice Posts: 1,398 Forumite
    Paul_N wrote: »
    Libor jumped from 5.5% yesterday to 6.8% today :eek:

    Massive leap in$ libor too. Up 3.31:eek: to $6.437

    LIBOR Rates may wreak havoc on the green shoots
    Turn your face to the sun and the shadows fall behind you.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Apparently $ rates rose above 10% at one point!

    These are rates being set in the market place and are thus out of the direct reach of the Central Banks. It's amazing how a little moral hazard concentrates minds!
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    phew. Back down to 5.29% today.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Generali wrote: »
    This is done at 11am each day for 10 different currencies and is called the Spot Fix. I have no idea why it's called that.

    Because it's a sample taken at a particular time in relation to a moving object - you do a "spot fix" if you are navigating a ship with a sextant, for example.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    down to 4.75%.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Dan: wrote: »
    down to 4.75%.


    Mmmmm, will not go down well on here.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Dan: wrote: »
    down to 4.75%.

    Amazing. Overnight £ Libor down to 4.75% yet 3 month is at 6%! I guess people feel there's plenty of uncertainty about still.

    So banks were lending to each other for less than the BoE base rate on Friday. Pretty unusual IME.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    StevieJ wrote: »
    Mmmmm, will not go down well on here.

    Yep. Why do you think I posted it?!
This discussion has been closed.
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