Citigroup, JPMorgan See Libor Exceeding 1% by Year-End: Chart

The three-month U.S. dollar London interbank offered rate extended its climb Wednesday, reaching the highest since May 2009. According to strategists at Citigroup Inc. and JPMorgan Chase & Co., it will keep rising for the rest of 2016, potentially eclipsing 1 percent by year-end, in part on an anticipated interest rate hike by the Federal Reserve. New money-market rules have driven about $1 trillion from funds that buy the short-term debt of banks and corporations into those that invest in safer securities, causing banks’ unsecured lending rates to soar.

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