Cheaper cash, higher risk as a key US funding rate suddenly collapses

The Secured Overnight Financing Rate (SOFR) just fell off a cliff. For most people outside financial circles, that means absolutely nothing. For markets, it’s seismic. Borrowing money overnight in U.S. markets suddenly got much cheaper. And in the plumbing of the global financial system, that’s the equivalent of someone opening the floodgates a little wider. The post Cheaper cash, higher risk as a key US funding rate suddenly collapses appeared first on CryptoSlate.