With the start of the new year, the transition from the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR) is now officially underway, and I believe it would be timely to talk about some of the nuances involved in the process of transitioning away from LIBOR and towards SOFR as the new standard reference rate for a multitude of different financial contracts and securities.| maroonmacro.substack.com