by Calculated Risk on 3/24/2008 03:20:00 PM

The TED Spread from Bloomberg:

The TED spread has declined to 1.52% (from over 2% last week).

Note: the TED spread is the difference between the three month T-bill and the LIBOR interest rate. Usually the TED spread is less than 0.5%. The higher the spread, the greater the perceived credit risks (compared to "risk free" treasuries).

The third wave of the liquidity crisis appears to have peaked.

If you want a cliff diving chart, see the Shanghai market. (hat tip James)