NEW YORK (Reuters) – A gauge of stress in the U.S. money markets grew to its highest level in more than six years on Thursday, bolstering the risk of further increase in the costs for banks and other companies to borrow dollars.
The spread between the three-month dollar London interbank offered rate and three-month overnight indexed swap rate widened to 50.65 basis points, a level not seen since January 2012. At the end of 2017, it was 27.83 basis points.
Reporting by Richard Leong; Editing by Bernadette Baum
Source : Reuters
