U.S. secured overnight financing rate soars to 4.51%, market liquidity tight

According to ChainCatcher, according to Kingstone, due to the impact of Treasury bond auction settlement and corporate quarterly tax payments, liquidity in the US market has further shrunk. The secured overnight financing rate (SOFR) rose to 4.51% as of September 15, a significant increase from 4.42% in the previous trading day, marking its biggest single-day gain since December 31. The rate rise has widened the spread between the SOFR and the effective federal funds rate to 18 basis points, the highest since December 26.