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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Henry Volquardsen who wrote (831)3/24/1999 8:23:00 PM
From: accountclosed  Read Replies (1) of 2794
 
Henry, another question about eurodollar/libor rates. It seems at year end there is a spike up in these rates. The one that I followed relatively closely was the 1 mo libor that spiked on December 1, 1998 and held high until the end of December. I understand that 3 month eurodollar rates similarly spiked on October 1 and held until year end. The explanation I have is that there is additional demand at year end for banks to lock in rates to show on their year end financials. This year was an unusually large spike of close to 50 basis points as I recall. This becomes a planning issue for the borrower if the rate is left unswapped.

Can you extend or correct this information? TIA and thanks for your previous post.
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