Big Bang Theory: Will Adopting SOFR Trigger Sales On Swaps?
by confoundedinterest17 The Federal Reserve of New York developed the secured overnight financing rate, or SOFR, to overcome the shortcomings of LIBOR. (Bloomberg) — It’s being called the “big bang,” and it has derivatives traders on high alert. In a critical development in the global shift away from old benchmarks that was triggered by Libor’s shortcomings, interest-rate swaps on … Read more