Basis trade is a Tier 2 trigger at prior 0.12, status quiet. sofrrate.com (aggregating Federal Reserve Bank of New York data) (2026-05-26) reports SOFR at 3.55% as of May 22, 2026; the framework's threshold requires SOFR-IORB to exceed 25 bps. The position de-loads when the spread falls persistently short of that threshold under stable money-market conditions.
Basis trade is a Tier 2 trigger at prior 0.12, status quiet. sofrrate.com (aggregating Federal Reserve Bank of New York data) (2026-05-26) reports SOFR at 3.55% as of May 22, 2026; the framework's threshold requires SOFR-IORB to exceed 25 bps. The position de-loads when the spread falls persistently short of that threshold under stable money-market conditions.
sofrrate.com (May 26, 2026) confirms the most recently published SOFR is 3.51%, with SOFR Index updated through May 22, 2026 at 1.24421537 and 30-day average SOFR at 3.60809%. Against IORB at 3.65% (pre-existing pack evidence, pack uuid d43b9e15-06ff-4884-9594-a214a31e49d7), the SOFR-IORB spread remains negative and well below the operator-set activation threshold of SOFR-IORB exceeding 25 basis points. Primary NY Fed unreachable (403); sourced via sofrrate.com aggregating NY Fed data.
SOFR Rate Today: 3.51%; SOFR Index (May 22, 2026): 1.24421537; 30-day average SOFR (as of May 22, 2026): 3.60809%.
sofrrate.com (May 26, 2026) reports SOFR at 3.55% as of May 22, 2026 (the NY Fed publication on the first business day after the Memorial Day weekend), with SOFR Index at 1.24470615 as of May 26, 2026 and 30-day average SOFR at 3.59435%. Against IORB at 3.65%, the SOFR-IORB spread is approximately -10 basis points, well below the operator-set threshold definition of SOFR-IORB exceeding +25 basis points. Primary NY Fed unreachable (403); sourced via sofrrate.com aggregating NY Fed data.
SOFR Rate: 3.55% as of May 22, 2026 (published May 26, 2026); SOFR Index: 1.24470615 as of May 26, 2026; 30-day average SOFR: 3.59435% (last 30 days as of May 26, 2026).
sofrrate.com confirms SOFR at 3.51% as of May 21, 2026 (published by the New York Federal Reserve on May 22, 2026 as the prior business day reading), with SOFR Index at 1.24421537 as of May 22 and 30-day average SOFR at 3.60809%. Against IORB at 3.65%, the SOFR-IORB spread remains negative and well below the section 5.3 activation threshold of SOFR-IORB exceeding 25 basis points. Primary NY Fed unreachable (403); sourced via sofrrate.com.
SOFR Rate Today: 3.51%; SOFR Index (May 22, 2026): 1.24421537; 30-day average SOFR (as of May 22, 2026): 3.60809%; Overnight LIBOR Fallback Rate (May 21, 2026): 3.51644%.
ICE BofAML MOVE Index most recent reading shows 79.72 with prior session close 95.74 and today's open at 81.53 (Investing.com, delayed data labeled May 21, 2026), with 52-week range 55.77 to 115.02. Both readings remain well below the section 13 falsification threshold of 130 for five or more consecutive sessions, indicating no sustained Treasury volatility stress. Grade C anchor only per named-source discipline.
The ICE BofAML MOVE live stock price is 79.72. Today, the ICE BofAML MOVE opened at 81.53. Prev. Close: 95.74; 52 wk Range: 55.77 - 115.02; Delayed Data 21/05.
NY Fed desk operations on May 22, 2026 show the afternoon SRF window accepted $300,000,000 at the 3.75% minimum bid rate, all in mortgage-backed securities collateral, with outstanding amount maturing 2026-05-26; the morning SRF window received zero submissions. ON RRP operations accepted $965,000,000 from 5 counterparties at 3.50%. No language of stress, dysfunction, or strain appears in the cited release; SRF utilization remains immaterial relative to the broader repo market.
totalAmtSubmitted: $300,000,000; totalAmtAccepted: $300,000,000; amountOutstanding: $300,000,000 (matures 2026-05-26); Breakdown by collateral: Treasury $0, Agency $0, Mortgage-Backed $300,000,000 (stop-out rate: 3.75%); Overnight Repo (morning window) totalAmtSubmitted: $0; totalAmtAccepted: $0
ICE BofAML MOVE Index confirmed previous close of 81.53 for May 22, 2026 per Yahoo Finance, with 52-week range 48.26 to 140.03. Current reading remains well below the section 13 falsification threshold of MOVE exceeding 130 for five or more consecutive sessions. Grade C anchor only per named-source discipline.
^MOVE ICE BofAML MOVE Index 81.53 0.00%; Previous Close: 81.53; 52 Week Range: 48.26 - 140.03; NYSE Delayed Quote.
sofrrate.com confirms SOFR at 3.51% for May 19, 2026 (published by the New York Federal Reserve on May 21, 2026 as the prior business day reading), with repo transaction volume of $3.1 trillion and rate range 3.48% to 3.59%. Against IORB at 3.65% as of May 19, 2026, the SOFR-IORB spread is approximately -14 basis points, well below the operator-set activation threshold of SOFR-IORB exceeding 25 basis points. Primary NY Fed unreachable (403); sourced via sofrrate.com.
Current SOFR Rate: 3.51% for May 19, 2026; Repo Transaction Volume: $3.1T; Rate Range: 3.48% - 3.59%; published by the New York Federal Reserve on May 21, 2026.
sofrrate.com reports IORB at 3.65% and EFFR at 3.62% as of May 19, 2026, with the Fed Funds target range at 3.5% to 3.75%. No change in Federal Reserve policy rates. Combined with SOFR at 3.51% for May 19, 2026, the SOFR-IORB spread is approximately -14 basis points, well below the operator-set activation threshold. Ample reserves support negative spread conditions consistent with no repo funding stress.
IORB: 3.65%; EFFR: 3.62%; Fed Funds Target Range: 3.5% - 3.75% (as of May 19, 2026).
Federal Reserve H.4.1 (May 21, 2026 release, data through Wednesday May 20, 2026) shows repurchase agreements (SRF/open market repo) at $7 million -- near-zero SRF utilization. Reserve balances held by depository institutions total $3,106,716 million ($3.1 trillion) and reverse repurchase agreements total $342,628 million. No H.4.1 text contains the words 'stress,' 'dysfunction,' or 'strain.' Ample reserves support stable short-term funding conditions with no funding stress signal.
Repurchase agreements: 7 (Wednesday May 20, 2026); Other deposits held by depository institutions: 3,106,716 (Wednesday May 20, 2026); Reverse repurchase agreements: 342,628 (Wednesday May 20, 2026).
sofrrate.com/policy-rates (fetched May 26, 2026) confirms IORB at 3.65% and EFFR at 3.62% with Fed Funds target range 3.5% to 3.75% as of May 21, 2026; no FOMC policy rate change has occurred between May 21 and May 26, 2026, confirming the SOFR-IORB spread remains negative against the freshly published SOFR of 3.55% for May 22, 2026. The SOFR-IORB spread of approximately -10 basis points remains well below the operator-set trigger threshold of +25 basis points. Primary Federal Reserve unreachable (403); sourced via sofrrate.com aggregating Federal Reserve and NY Fed data.
IORB: 3.65%; EFFR: 3.62%; Fed Funds Target Range: 3.5% - 3.75% (as of May 21, 2026).