Entries tagged "PacSun"
Fears of a drawn-out credit market ice age subsided somewhat on Monday as the interbank lending rate LIBOR fell for the sixth straight day and the spreads on credit default swaps of major U.S. banks all tightened. The London interbank offered rate for dollars posted its largest decline in nine months with one-month LIBOR for dollars at 3.75%, and three-month LIBOR for dollars at 4.06%. Investors saw this as light at the end of the frozen credit tunnel sending the Dow Jones Industrial Average up 413.21 points to close at 9,265.43. ...