The World Is Shifting, Right?

The CME, the Chicago Mercantile oil exchange reminded everybody quietly in October that your dollar futures are not going to be a thing after April. The switchover from SOFR away from LIBOR no longer does what happened in Europe when anywhere else matter to the American banking system. "This is all politicized at this point, but it's clearly someone's ox was being gored by the appointment of Powell," he says.