Bloomberg joins race for SOFR credit add-on
Benchmark provider building bolt-on adjustment from short-term bank lending data
The race to build a credit adjustment for the secured overnight financing rate – the Federal Reserve’s preferred US dollar Libor replacement – is stepping up a gear, with a new entrant throwing its hat in the ring after US agencies decided not to endorse a Libor alternative specifically aimed at dollar lending markets.
Bloomberg is readying a dynamic credit spread benchmark, which would reflect
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