SOFR so good? Volatility in Libor’s heir apparent raises questions
Two days of volatility in SOFR, the main contender to replace Libor, has cast doubt on its suitability as a new benchmark rate for corporate financial activity
Since its birth in April 2018, the Secured Overnight Financing Rate (SOFR) – expected to replace the London Interbank Offered Rate (Libor) for dollar-based financial activity when it expires in two years – has exceeded 2.5% just once in January.
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