Comment: Money market interest rate futures contracts appear to have formed interim highs and look set to drift lower over the next couple of weeks. Eurozone Libor rates for all maturities over one month are well above Schatz and Bund yields, while in the UK everything over one week yields more than any Gilt. This is not the case in Japan and the US where only twelve month Libor is comparable to ten-year Treasury rates. If consensus opinion is correct in guessing the credit crunch will only
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