Libor drops as government initiatives boost confidence

10/15/2008 | Wall Street Journal, The

As the U.S. rescue plan continues to evolve and governments around the world announce programs of their own, investor confidence is growing and the Libor is falling. Morgan Stanley market analyst Laurence Mutkin said the overriding theme is that the initiatives are good for the liquidity and solvency of lenders. "We expect that forward Libor/OIS spreads should narrow further as a result," Mutkin said.

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