SOFR Spike: What To Know

A SOFR spike! Who's excited?! I don't know how much attention this'll garner among casual market observers ("laypeople," if you like) but if you're looking for funding canaries or evidence to support the notion that the liquidity tide is on its way out, a sharply higher SOFR print will fit the bill. The 6bps jump reflected in Friday's fix raised a few eyebrows Monday, particularly given that it came after month-end. This is the sort of thing that's easy to sensationalize (e.g., Cameron Cris