US Treasury Official: Considering issuing debt linked to new reference rate
A US Treasury official made a statement last minutes that the Treasury Department is considering issuing debt linked to new reference rate, the Secured Overnight Financing Rate (SOFR).
No further details are offered on the same.
As cited by the New York Fed, the SOFR is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.