PLUS, CAPITAL MARKETS CONTINUE TO SHOW IMPROVEMENT AND STABILIZATION
One year after the darkest days of the recent financial crisis, our capital markets continue to improve and stabilize.
Equity markets have increased 57 percent (as measured by the S&P 500) from their low point in early March and some of the key metrics in the debt markets are returning to pre-crisis levels. A key measure of inter-bank confidence, the LIBOR-OIS spread, is now 11 basis points, nearly back to pre-2008 levels and a fraction of the peak of 364 basis points immediately following the collapse of Lehman Brothers in October 2008.
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