I noticed a very interesting event in the gold lease market. The 3 month rate plunged relative to 1 and 2 month rates. The 3 month rate is actually LOWER than the 1 and 2 month rates ..... I've never seen this before.
From what I can see LIBOR must have risen significantly for the 3 month rate relative to the other rates. There must be some money flow disruptions expected on the near term horizon (2-3 months). Debt rollover???? Greece again???
