The Recent LIBOR Spike Is Bad News For BanksRupert Hargreaves
The recent move in LIBOR seems to have caught Wall Street off guard. At a time when many analysts and economists are predicting that central banks around the world will be unable to hike interest rates for the foreseeable future, LIBOR rates have jumped over the past few weeks.
Deutsche Bank reports that since June 30, one-month LIBOR rates have risen four basis points to 51bps, while 3-month LIBOR has risen 15 bps to 80 bps. On Friday . . .
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