Please discuss what you have learned about the progression of the

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?