Bank Stress Tests Could Show Several Banks Need Capital
Dollar Gains on Euro
Oil Remains Above $54 on Recovery Hopes
Crude oil prices for June delivery remained above $54 a barrel this morning in Europe as investors speculate that demand will increase as summer approaches. More
3-Month LIBOR Falls Below 1%
The 3-Month London Interbank Offered Rate (LIBOR) – the benchmark rate that sets the interest rate banks charge to lend each other money – fell below 1 percent for the first time today. The lower LIBOR rate – and the resulting closing of the gap between LIBOR and the Overnight Indexed Swap (OIS) rates – is seen as an indicator of increased willingness for banks to provide liquidity to the financial system.
Ã¢â‚¬Å“Confidence is returning to the market, so I would say so far so good,Ã¢â‚¬Â said Brian Delany, a money-market trader on the dollar desk at Bank of Ireland Plc in Dublin. More
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