TREE NEWS reports: The secured overnight financing rate (SOFR) stood at 3.87% on Oct. 19, down from 3.88% the prior day. The effective federal funds rate was 3.88% for the same trading day, unchanged from the previous day’s 3.88%.
SOFR Falls to 3.87% on Oct. 19; Fed Funds Rate Holds at 3.88%
AI take
The near-parity between SOFR and the effective fed funds rate suggests money-market pricing remains orderly, with no sign of the funding stress that typically widens that spread. A one-basis-point move in SOFR is routine, so the more telling signal is the stability of the fed funds rate, which anchors the broader rate complex that tokenized Treasury and RWA yield products track. Whether that spread stays compressed through upcoming settlement and quarter-end dates is the open question worth watching.
Generated by AI for reference only.
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