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We believe the sharp move higher in the USD Libor is
likely to be one-off, in anticipation of upcoming reforms and could
ease slightly when money market reforms are implemented on 14 Oct, as
higher short term funding cost should see banks/corporates shifting
their funding out of the curve. Whether USD Libor could stay higher
post-implementation remains uncertain and debatable, but we are in
the camp that USD Libor could remain on an uptrend, due to ...
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