Trial now
EURJPY TECHS

Probes Key Support

FED

Natixis View on Fed's Dot Plot: Hawkish

USDJPY TECHS

Range Base Holds Firm

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

The NY Fed's Alternative Reference Rates Committee (ARRC) announced their formal recommendation today for the CME Group's forward-looking SOFR Term Rates "for business loan activity, where adapting to an overnight rate could be more difficult."

  • In the statement, ARRC "does NOT support the use of SOFR Term Rates for derivatives markets" however, "except for end users to hedge cash products using the SOFR Term Rates."
  • ARRC "continues to recommend using forms of overnight and averages of SOFR where possible."
  • Of note, use of 1W and 2M US$ LIBOR rates will end on December 31, 2021 while the balance of tenors (O/N, 1M, 3M, 6M and 1Y) will end June 30, 2023.
  • Link: ARRC