Meet The Index That Could Replace LIBOR

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Bloomberg Markets and Finance features news about financial markets from around the world. Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent Bloomberg Markets and Finance Items:

  • Leaders recognize ‘it’s all going to come crashing down’ without fairness in society, says Summers
  • Markets are trading on economic fundamentals, says Goldman Sach’s Mossavar-Rahmani
  • Mid-sized Businesses Need Something Closer to Equity Than to Credit, Says Tarullo
  • Troubles with LIBOR have kickstarted a massive project to transition to a new benchmark interest rate for financial markets. On the second episode of our series, we speak with Joe Abate, money market strategist at Barclays, about the proposed replacement known as the Secured Overnight Financing Rate, or SOFR. How is it different to LIBOR and what are the downsides of having an interest rate tied to actual marketplace transactions?

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    Bloomberg’s Joe Weisenthal and Tracy Alloway take you on a not-so random weekly walk through hot topics in markets, finance and economics.

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