As LIBOR winds down, one derivatives trader worries its replacement will do a poor job hedging risks in turbulent times: "For somebody who wants to hedge their borrowing costs, [SOFR] leaves a lot to be desired."

Morgan Stanley and other investment firms seem far more focused on Fed actions than the emergence of new Covid-19 variants.

The value of goods exports rose 8.1%, while the value of imports rose only 0.9%, for a U.S. trade deficit of approximately $67 billion in October.

The proposal in the Build Back Better plan would solve for a discrepancy between how FASB and the IRS calculate corporate earnings.