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Source: Bloomberg
Date: 4/28/2010
Authors: Keith Jenkins

News Bite

Libor for 12-Month Dollars Rises to Highest This Year

The cost of borrowing between banks for 12 months rose to its highest levels of the year on speculation that the Federal Reserve will raise interest rates within the coming year. The rise in 12-month LIBOR is due to a pricing in of an eventual fed rate increase. As the year comes to a close, this speculation will likely cause the 3-Month LIBOR rate, a key index in determining interest payments on everything from mortgages to corporate borrowing, to rise as well.
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