The TED spread is the difference in interest rate between short term treasuries, and short term inter-bank lending.
During times of uncertainty, it rises, as people flee to treasuries, and Brad DeLong gives us this very scary picture:
The TED spread is the difference in interest rate between short term treasuries, and short term inter-bank lending.
During times of uncertainty, it rises, as people flee to treasuries, and Brad DeLong gives us this very scary picture: