Indicator · updated with every release
SOFR today
The cost of borrowing cash overnight against Treasury collateral: the main US short-term interest rate benchmark, which replaced LIBOR.
The full SOFR chart is in Pro, with its whole history, ranges, overlays and alerts, next to 111 other charts.
What it is
SOFR is published every business day by the New York Fed from actual overnight Treasury repo trades. It normally trades close to the effective Fed funds rate and interest on reserve balances (now 3.90%).
Why it matters for liquidity
When cash is plentiful, SOFR sits at or below the Fed’s administered rates. When reserves get scarce it jumps above them, as on 17 September 2019 when it hit 5.25%. The gap between SOFR and the Fed funds rate is a simple gauge of repo stress, and SOFR against the 2-year yield shows whether markets expect rates to fall or rise (SOFR − 2-year spread).
Questions
What is SOFR today?
On 30 October 2026, SOFR was 3.95%, down 0.09 points on a year earlier. The effective Fed funds rate was 3.88%.
Why does SOFR sometimes spike?
When cash in money markets runs short, often at month- or quarter-end or when bank reserves are low, lenders charge more for overnight repo.
Related
Get the full picture. Pro has the SOFR chart and 111 more on liquidity, central banks, rates and markets, plus a weekly note, momentum alerts and an MCP connector to ask about them in Claude or ChatGPT. Free for 10 days.
Start free trialGeneral information only, not financial advice. Data can be delayed, revised or wrong. Sources and credits.