LIBOR
Please discuss what you have learned about the progression of the LIBOR transition. Comment on some of the attributes that a reference benchmark index should have. For example, do you think the base index itself should include a credit component embedded within it? Why or why not? Also, what challenges do you envision with SOFR, which remains the preferred alternatively? Do you see a problem with the fact that this index has no term structure beyond 1 day? What other elements do you envision might be tied to the transition in general?
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