US 3-month T-bill rate vs Libor narrows to 422 bps
NEW YORK Oct 14 (Reuters) - A widely watched market gauge of fear that reflects demand for ultra safe short-dated government paper versus interbank lending markets narrowed slightly on Tuesday on details of a U.S. rescue plan for banks.
The gap of the 3-month dollar denominated Libor or London interbank offered rate over rates on 3-month U.S. Treasury bills narrowed to about 422 basis points early on Tuesday in New York, from about 459 basis points late on Friday, which was near the widest in a decade.
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