I didn't understand a single word of that........ On Tue, Sep 30, 2008 at 1:46 PM, Gruss Gott <[EMAIL PROTECTED]> wrote:
> Sept. 30 (Bloomberg) -- The euro fell the most against the dollar > since the introduction of the shared currency in 1999 > > Banks are being squeezed amid a surge in borrowing costs as lenders > hoard cash on concern more financial institutions will fail. > > The London interbank offered rate, or Libor, that banks charge each > other for such loans in dollars climbed 431 basis points to an > all-time high of 6.88 percent, the British Bankers' Association said. > > [many US ARMs are fixed to the Libor! Anarchy!] > > ``There's a dollar shortage globally,'' said Alan Ruskin, head of > international currency strategy in North America at RBS Greenwich > Capital Markets Inc. in Greenwich, Connecticut. ``Demand for liquidity > trumps the fundamentals. Fundamentally, the U.S. is awful, and Europe > is awful. Fundamentals are irrelevant today.'' > > The price on one-year cross-currency basis swaps between yen and > dollars reached minus 70 basis points, the biggest effective premium > for dollar funding since Bloomberg began tracking the data in 1997. > The highest reached in 1998, during the Asian banking crisis was minus > 38.5 basis points in October 1998, according to Bloomberg data. > > ``There is a mad scramble for U.S. dollar funding demand from a global > U.S. dollar-based financial system,'' said Claudio Piron, > Singapore-based head of Asian currency research at JPMorgan Chase & Co > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271627 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
