Interest Rates

"We want to signal our support for credit-sensitive rates alongside SOFR. There's a lot of work being done on having a rate that looks and feels like LIBOR," according to a BofA representative.

New York governor signs into law a LIBOR fix designed to avert transition chaos.

FOMC expects an inflation bump, but it's short-lived, spiking to 2.4% this year before slowing to 2% next year.

A Canadian energy company's issue tied to SOFR saw significant demand on Tuesday.

It's an "important day," as ISDA issues fallback measure for swaps and other derivatives still tied to the benchmark.

New York governor's state budget, published this week, includes provisions to help troublesome LIBOR-linked contracts switch to replacement rates.