The Worst May Be Over…
Markets worldwide are reacting favorably to (from Reuters):
Interbank lending, stimulus provide hope in crisis
Monday, October 20, 2008
By Daniel Trotta
NEW YORK (Reuters) – Interbank lending emerged from deep freeze and Fed chairman Ben Bernanke gave his blessing to a second U.S. government stimulus package on Monday, providing hope the world’s financial crisis may be easing.
The three-month Libor rate fell more than one-third of a percentage point, its biggest one-day drop in nine months in one sign that banks may have the confidence to lend to each other again, crucial to reactivating the world economy.
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