3-Month Libor Vs. Euribor Spread Is At Its Highest Level Since 1999

Tavi Costa Current Views

The 3-Month Libor vs. Euribor spread is at its highest level since 1999!

Is the ECB about to start tightening or the Fed about to stop?

Either way, unless “this time is different”, such policy changes from similar extremes is what preceded the last two recessions.