Disliked{quote} That brings us to second subject. Euribor and Eonia are counted differently. Eonia is weighted average of all trades between banks O/N. So it is ex post. Where Euribor is average of trades at start of session. CB just checks how market looks like. But banks know when, so they manipulate it. In fact while talking about it, I aint sure if it is not Euribor, what is used as the base for those credits and mortgages. Nevertheless, ofc both are heavily correlated. + you are sending 3m euribor. We are talking O/N here. Spikes can smooth out in...Ignored
On the month-2-month base, the spikes just aren't as pronounced. This definitely smells like trouble ahead.