SOFR volumes grow, but Libor remains strong

While swaps volumes have risen to an all-time high in SOFR, many sources doubt the efficiency of ‘no new Libor’ as the benchmark continues to dominate the US market

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Two of the seven USD Libor maturities discontinued at the end of 2021, and the other five – overnight, one, three, six and 12 months – will follow in June 2023, we surveyed the market to gauge readiness