While U.S. markets are enjoying the scheduled Christmas rally (I think few more weeks to go) the really bad news are coming from London. The British Pound Libor spread is increased to 1.14%. This is absurdly high spread, it’s totally off the chart:
Even during our August ball-freeze the dollar Libor spread was below 0.5%. So in the pound world it’s more than twice worse.
I think the Bank of England has to urgently cut rates once more, off the schedule. London is the worst point in the financial world right now