Forget The Fed, Short-Term Funding Costs For American Business Are The Highest In 8 Years
Since its lows in May of 2014, short-term USD borrowing costs (1M Libor) have quadrupled. As the 100%-priced-in December rate-hike looms, the cost of funding for American businesses is once again on the rise, now at its highest since December 2008.
For now, it seems, the most levered US equity market ever appears ignorant of this rapid tightening of financial conditions…
This post was published at Zero Hedge on Nov 25, 2016.