Tom Keene covers the all important LIBOR in this video. As I have been saying for weeks the credit markets are not confirming the huge rally in equities. That would lead one to believe that nothing is actually improving in the lending markets and therefore we’re seeing a false dawn. Of course, if spreads were to begin improving drastically from here I believe we could really see stocks take off, but I doubt any further upside will be anything more than sentiment based rally chasing. Stay tuned.