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Those markets have been exhibiting large spikes, thus, the shift from LIBOR to SOFR will compound the increased volatility in the money markets already resulting from QT.

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    Who said: "If you have always believed that everyone should play by the same rules and be judged by the same standards, that would have gotten you labeled a radical 60 years ago, a liberal 30 years ago and a racist today."?
    A Thomas Sowell
    B Ron Paul
    C Barack Obama
    D Larry Elder