Either-Way Market

What Does Either-Way Market Mean?
A condition that exists in the eurodollar interbank deposit market when the bid and offer rates for a particular period are equal. Increasing levels of liquidity can narrow the spread between bid and offer rates until the two values are identical, resulting in an either-way market.

Investopedia explains Either-Way Market
In an either-way market, banks can go either way between lending or borrowing at the current rate. The convergence of the bid and offer rates creates this indifference point.