Capital stringency intensified, with short-term interest rates in the U.S. rising to their highest point of the year, exceeding the policy rate target range before the September FOMC meeting of the Federal Reserve.

According to data from the New York Federal Reserve, the overnight financing rate for collateralized loans was reported at 4.51% on the previous trading day, compared to 4.42% the day before. The effective federal funds rate on the previous trading day was reported at 4.33%, the same as the day before.