TREE NEWS reports: The Secured Overnight Financing Rate (SOFR) printed at 3.90% on Sept. 25, up from 3.88% the prior day. The effective federal funds rate held at 3.88% on the same trading day, unchanged from the previous session.
SOFR Rises to 3.90% from 3.88%, New York Fed Data Shows
AI take
A two-basis-point move in SOFR is routine, but the spread over an unchanged effective fed funds rate is the detail worth noting: repo funding is trading marginally above the policy-rate benchmark rather than at or below it. That relationship matters for anyone with floating-rate exposure tied to SOFR, since it sets the base for accruals and derivative payoffs. Whether the gap persists or compresses back toward the funds rate is the open question.
Generated by AI for reference only.
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