Three-month dollar borrowing (Libor) drops to a four-year low of 2%. Authorities' 'Hurculean'...

|By:, SA News Editor
Three-month dollar borrowing (Libor) drops to a four-year low of 2%. Authorities' 'Hurculean' efforts to unfreeze credit markets are clearly helping, but the spread between Libor and the fed funds target - 100 bps - is still way higher than its recent average of 16 bps.