BY LIZ RAPPAPORT AND SERENA NG
The credit markets are seizing up again amid new anxieties about the global financial system.
The fear and uncertainty that sent stocks to 12-year lows is now roiling the market for corporate bonds and loans, which have given back much of the gains they chalked up earlier in the year.
Short-term credit markets are still performing better than they did last year thanks to government programs to buy commercial paper and guarantee short-term debt. But Libor, the London interbank offered rate, a common benchmark interest rate, has crept up over the past weeks, from 1.1% in mid-January to 1.3% on ...
Most Recommended
“"[Working class whites]...;”
“The plan of the left, as so...;”
“A model for the failure of...;”
“One congressman bucking the...;”
“Exactly like the Mafia, unions...;”