BitsSecuritySOFR & repo-rate desk
Rates for Oct 8, 2026 · NY Fed data

SOFR history: 2026 so far

A partial year: 193 SOFR prints from January 2 through October 8, 2026, including the first target-range increase since 2023.

This page is incomplete by design. It covers SOFR effective dates from January 2 through October 8, 2026, 193 business days, and the SOFR Averages and Index through October 9. Everything below describes those days only; the year's last quarter is still being printed.

The year opened with a 12 bp step down, from 3.87% on December 31 to 3.75% on January 2, on $3,508 billion of volume, the largest single day in the series. After that the rate settled. With the target range at 3.50%–3.75% from the start of the year to September 16, SOFR stayed inside the range on all 177 business days, averaging 3.636%. Five neighboring values, 3.62% through 3.66%, account for 127 of the year's 193 prints. EFFR moved only between 3.62% and 3.64% over the same stretch.

The May dip to the floor

The one break in that calm came in mid-May. SOFR slipped from 3.60% on May 12 to 3.50% on May 20, exactly the bottom of the range and 12 bp under EFFR. That day's 1st-percentile rate was 3.46%, below the floor. SOFR printed at least 8 bp under EFFR on each of the five business days from May 15 to May 21, recovered to 3.55% on May 22 and then rose 8 bp to 3.63% on May 26, the largest move of the year apart from January 2 and September 17. The 3.50% print remains the 2026 low.

September 17: the range moves up

The EFFR data show the target range at 3.75%–4.00% from September 17, 2026, a 25 bp increase and the first upward change since July 27, 2023. On that date:

  • EFFR went from 3.63% to 3.88%, up 25 bp.
  • SOFR went from 3.62% to 3.85%, up 23 bp.
  • TGCR went from 3.60% to 3.83%, up 23 bp.

The data record the change but not the reasoning behind it, and this page does not guess at one. In the 16 business days from September 17 to October 8, SOFR ranged from 3.85% to 3.90% and averaged 3.878%, while EFFR printed 3.88% every day. The 2026 high of 3.90% was first reached on September 25 and matched on three more days, including the September 30 quarter-end on $3,230 billion. The target range page sets the move against every change since 2018, and the rate shock calculator shows what a shift of this size does to a floating-rate payment.

Quiet month-ends

Month-ends in 2026 have been mild. Comparing each month's last print with the average of the five business days before it, no month from January to September reached 6 bp. The largest was June 30, when SOFR rose to 3.68% on $3,418 billion, 5.6 bp above the prior week's 3.62% to 3.64%. September 30, a quarter-end, read only 1.4 bp, because the days before it were already at 3.87% to 3.90%. Late 2025 looked different: November 28 read 14.8 bp and December 31 read 15.8 bp.

The gap to fed funds has narrowed in the same way. SOFR averaged 9.6 bp over EFFR in the fourth quarter of 2025. In 2026 the quarterly averages are +1.8 bp, −1.2 bp and +0.1 bp. Since September 17 SOFR has been below EFFR on seven of 16 days.

Volume has eased since the first quarter

Average daily volume so far is $3,099.6 billion, higher than any full year. It has drifted down by quarter: $3,198.6 billion in the first, $3,120.7 billion in the second and $2,993.9 billion in the third. The lowest day of the year was $2,808 billion on August 28.

Compounded so far

The SOFR Index rose from 1.22671228 on January 2 to 1.26208139 on October 9, 2026: 2.88% of growth over 280 days, or 3.71% annualized on actual/360. The averages on October 9 show the September step working through. The 30-day average was 3.81569%, against 3.70963% for 90 days and 3.68823% for 180 days. The longer windows still mostly hold days from the lower range. The compounded SOFR calculator handles windows that straddle the change.

Reading year-to-date tables

Every figure below stops at October 8. The October row of the monthly table holds six prints, October 1 to 8, so its 3.882% mean and its high and low are not comparable with a full month. September's row mixes 11 days at 3.62% to 3.66% with 10 days at 3.85% to 3.90%, and the year-to-date mean of 3.656% is weighted toward the lower range, which covers 177 of the 193 days.

The key-figures table ranks daily moves within 2026 only. It lists the 23 bp rise of September 17 first and May 26 second, because the 12 bp drop on January 2 is measured from a 2025 print. The daily table does include that change: its change column compares each date with the previous business day, whatever the year. Its percentile column shows the 1st and 99th volume-weighted percentile rates published by the New York Fed. Their median distance this year is 13 bp, and the widest, 24 bp, came on February 17, from 3.65% to 3.89%. The volume column shows billions of dollars, as published.

SOFR and the target band, 2026 to date

3.463.583.693.813.924.04MarMayJulSepSOFR
SOFRFed funds target range

Year-to-date statistics

StatisticValue
Observations193
First / last observationJan 2, 2026 / Oct 8, 2026
First rate / last rate3.75% / 3.87%
Mean / median3.656% / 3.64%
High3.90% on Sep 25, 2026
Low3.50% on May 20, 2026
Average daily volume$3,099.6 billion
Largest daily moves+23 bp (Sep 17, 2026), +8 bp (May 26, 2026), -6 bp (Feb 19, 2026)

2026 by month (October partial)

SOFR by month, 2026. Source: Federal Reserve Bank of New York; summary statistics computed by BitsSecurity.
MonthObs.FirstLastMeanHighLowAvg volume ($bn)
January203.75%3.68%3.656%3.75%3.63%3,211
February193.69%3.68%3.667%3.73%3.63%3,228
March223.71%3.68%3.650%3.71%3.62%3,162
April213.65%3.66%3.642%3.72%3.57%3,107
May203.64%3.63%3.586%3.64%3.50%3,123
June213.65%3.68%3.628%3.69%3.59%3,132
July223.66%3.66%3.619%3.66%3.53%3,079
August213.65%3.68%3.642%3.68%3.62%2,959
September213.66%3.90%3.751%3.90%3.62%2,940
October63.87%3.87%3.882%3.90%3.87%3,002

Each 2026 observation to date

Every published SOFR observation in 2026, newest first. Source: Federal Reserve Bank of New York.
Effective dateSOFRChange (bp)1st–99th pctVolume ($bn)
Oct 8, 20263.87%-13.83% – 3.95%2,963
Oct 7, 20263.88%-23.81% – 3.96%2,968
Oct 6, 20263.90%+13.84% – 3.98%2,997
Oct 5, 20263.89%+13.84% – 3.97%3,007
Oct 2, 20263.88%+13.83% – 3.96%3,013
Oct 1, 20263.87%-33.83% – 3.97%3,067
Sep 30, 20263.90%+23.83% – 3.99%3,230
Sep 29, 20263.88%-23.81% – 3.97%2,967
Sep 28, 20263.90%03.83% – 3.98%2,964
Sep 25, 20263.90%+23.83% – 3.99%2,914
Sep 24, 20263.88%+13.81% – 3.96%2,990
Sep 23, 20263.87%03.81% – 3.95%2,946
Sep 22, 20263.87%+23.80% – 3.95%2,940
Sep 21, 20263.85%03.80% – 3.93%2,912
Sep 18, 20263.85%03.80% – 3.93%2,955
Sep 17, 20263.85%+233.70% – 3.93%2,992
Sep 16, 20263.62%-23.58% – 3.70%2,931
Sep 15, 20263.64%+23.57% – 3.72%2,952
Sep 14, 20263.62%03.57% – 3.70%2,861
Sep 11, 20263.62%03.57% – 3.69%2,867
Sep 10, 20263.62%-23.58% – 3.70%2,921
Sep 9, 20263.64%03.59% – 3.72%2,859
Sep 8, 20263.64%-13.58% – 3.73%2,904
Sep 4, 20263.65%-13.60% – 3.73%2,888
Sep 3, 20263.66%+13.60% – 3.74%2,949
Sep 2, 20263.65%-13.60% – 3.73%2,882
Sep 1, 20263.66%-23.61% – 3.74%2,912
Aug 31, 20263.68%+33.60% – 3.77%3,056
Aug 28, 20263.65%+13.59% – 3.73%2,808
Aug 27, 20263.64%03.59% – 3.72%2,836
Aug 26, 20263.64%-23.60% – 3.72%2,859
Aug 25, 20263.66%+13.60% – 3.74%2,916
Aug 24, 20263.65%03.59% – 3.73%2,919
Aug 21, 20263.65%+23.59% – 3.73%2,952
Aug 20, 20263.63%+13.58% – 3.71%2,922
Aug 19, 20263.62%-33.58% – 3.70%2,923
Aug 18, 20263.65%-13.60% – 3.72%3,010
Aug 17, 20263.66%+43.60% – 3.74%3,068
Aug 14, 20263.62%03.59% – 3.70%2,957
Aug 13, 20263.62%03.59% – 3.70%2,932
Aug 12, 20263.62%-23.58% – 3.71%2,943
Aug 11, 20263.64%+13.58% – 3.73%2,961
Aug 10, 20263.63%+13.58% – 3.71%2,964
Aug 7, 20263.62%-33.59% – 3.71%2,977
Aug 6, 20263.65%+13.61% – 3.73%3,055
Aug 5, 20263.64%-23.60% – 3.73%2,989
Aug 4, 20263.66%+13.60% – 3.74%3,036
Aug 3, 20263.65%-13.61% – 3.73%3,055
Jul 31, 20263.66%+13.60% – 3.75%3,205
Jul 30, 20263.65%03.60% – 3.73%3,011
Jul 29, 20263.65%03.60% – 3.74%3,032
Jul 28, 20263.65%+13.60% – 3.74%2,977
Jul 27, 20263.64%03.59% – 3.72%2,953
Jul 24, 20263.64%03.59% – 3.72%2,979
Jul 23, 20263.64%+23.58% – 3.72%2,971
Jul 22, 20263.62%+13.56% – 3.70%3,026
Jul 21, 20263.61%+43.56% – 3.69%2,975
Jul 20, 20263.57%-23.54% – 3.66%3,012
Jul 17, 20263.59%-33.55% – 3.67%3,030
Jul 16, 20263.62%-23.58% – 3.70%3,038
Jul 15, 20263.64%+13.58% – 3.73%3,104
Jul 14, 20263.63%+33.55% – 3.72%3,092
Jul 13, 20263.60%+53.55% – 3.69%3,096
Jul 10, 20263.55%+23.51% – 3.67%3,056
Jul 9, 20263.53%-53.50% – 3.65%3,126
Jul 8, 20263.58%-43.55% – 3.67%3,158
Jul 7, 20263.62%-13.58% – 3.71%3,154
Jul 6, 20263.63%-13.58% – 3.71%3,212
Jul 2, 20263.64%-23.60% – 3.72%3,208
Jul 1, 20263.66%-23.61% – 3.73%3,321
Jun 30, 20263.68%+63.61% – 3.80%3,418
Jun 29, 20263.62%03.58% – 3.71%3,126
Jun 26, 20263.62%-23.58% – 3.70%3,171
Jun 25, 20263.64%+23.58% – 3.74%3,145
Jun 24, 20263.62%03.57% – 3.71%3,116
Jun 23, 20263.62%+13.55% – 3.70%3,105
Jun 22, 20263.61%-13.57% – 3.69%3,073
Jun 18, 20263.62%-13.58% – 3.70%3,148
Jun 17, 20263.63%03.59% – 3.71%3,114
Jun 16, 20263.63%-63.60% – 3.72%3,137
Jun 15, 20263.69%+43.62% – 3.78%3,147
Jun 12, 20263.65%+53.59% – 3.74%3,059
Jun 11, 20263.60%+13.57% – 3.70%3,061
Jun 10, 20263.59%-13.55% – 3.67%3,023
Jun 9, 20263.60%-33.56% – 3.69%3,063
Jun 8, 20263.63%03.57% – 3.71%3,115
Jun 5, 20263.63%+13.58% – 3.71%3,131
Jun 4, 20263.62%+13.58% – 3.70%3,147
Jun 3, 20263.61%-23.58% – 3.70%3,098
Jun 2, 20263.63%-23.59% – 3.71%3,148
Jun 1, 20263.65%+23.60% – 3.74%3,224
May 29, 20263.63%+13.58% – 3.72%3,201
May 28, 20263.62%-13.58% – 3.72%3,139
May 27, 20263.63%03.60% – 3.73%3,176
May 26, 20263.63%+83.56% – 3.72%3,127
May 22, 20263.55%+43.51% – 3.65%3,078
May 21, 20263.51%+13.48% – 3.62%3,077
May 20, 20263.50%-13.46% – 3.56%3,082
May 19, 20263.51%-23.48% – 3.59%3,111
May 18, 20263.53%-23.50% – 3.62%3,159
May 15, 20263.55%-13.51% – 3.65%3,157
May 14, 20263.56%-33.53% – 3.67%3,115
May 13, 20263.59%-13.55% – 3.68%3,119
May 12, 20263.60%03.56% – 3.69%3,097
May 11, 20263.60%03.55% – 3.68%3,090
May 8, 20263.60%03.56% – 3.68%3,087
May 7, 20263.60%-13.57% – 3.69%3,106
May 6, 20263.61%-13.57% – 3.71%3,129
May 5, 20263.62%-13.58% – 3.71%3,148
May 4, 20263.63%-13.59% – 3.71%3,113
May 1, 20263.64%-23.61% – 3.73%3,150
Apr 30, 20263.66%+33.59% – 3.75%3,275
Apr 29, 20263.63%-13.59% – 3.72%2,964
Apr 28, 20263.64%-23.60% – 3.73%3,021
Apr 27, 20263.66%03.60% – 3.76%3,058
Apr 24, 20263.66%+13.60% – 3.76%3,047
Apr 23, 20263.65%+13.59% – 3.74%3,011
Apr 22, 20263.64%+13.59% – 3.73%2,960
Apr 21, 20263.63%03.59% – 3.72%3,021
Apr 20, 20263.63%-23.59% – 3.71%3,010
Apr 17, 20263.65%-23.60% – 3.73%3,042
Apr 16, 20263.67%-53.63% – 3.75%3,107
Apr 15, 20263.72%+63.65% – 3.82%3,117
Apr 14, 20263.66%+33.60% – 3.75%3,116
Apr 13, 20263.63%+23.60% – 3.72%3,135
Apr 10, 20263.61%+43.57% – 3.72%3,063
Apr 9, 20263.57%-23.53% – 3.70%3,147
Apr 8, 20263.59%-33.55% – 3.69%3,169
Apr 7, 20263.62%-33.55% – 3.71%3,260
Apr 6, 20263.65%-13.60% – 3.74%3,217
Apr 2, 20263.66%+13.62% – 3.75%3,251
Apr 1, 20263.65%-33.61% – 3.75%3,265
Mar 31, 20263.68%+53.62% – 3.78%3,280
Mar 30, 20263.63%03.60% – 3.73%3,082
Mar 27, 20263.63%-23.60% – 3.73%3,037
Mar 26, 20263.65%+13.61% – 3.75%3,113
Mar 25, 20263.64%+13.60% – 3.74%3,063
Mar 24, 20263.63%+13.59% – 3.72%3,014
Mar 23, 20263.62%03.59% – 3.71%3,013
Mar 20, 20263.62%03.59% – 3.70%3,102
Mar 19, 20263.62%03.59% – 3.71%3,121
Mar 18, 20263.62%-33.58% – 3.71%3,092
Mar 17, 20263.65%-53.60% – 3.73%3,146
Mar 16, 20263.70%+53.63% – 3.79%3,178
Mar 13, 20263.65%03.60% – 3.74%3,164
Mar 12, 20263.65%+13.60% – 3.74%3,112
Mar 11, 20263.64%03.60% – 3.73%3,175
Mar 10, 20263.64%-13.60% – 3.72%3,200
Mar 9, 20263.65%03.61% – 3.74%3,173
Mar 6, 20263.65%-13.60% – 3.73%3,198
Mar 5, 20263.66%-13.60% – 3.74%3,294
Mar 4, 20263.67%-33.64% – 3.76%3,292
Mar 3, 20263.70%-13.65% – 3.78%3,310
Mar 2, 20263.71%+33.67% – 3.82%3,404
Feb 27, 20263.68%+13.62% – 3.78%3,252
Feb 26, 20263.67%03.63% – 3.76%3,262
Feb 25, 20263.67%03.63% – 3.76%3,232
Feb 24, 20263.67%+13.62% – 3.76%3,239
Feb 23, 20263.66%03.61% – 3.75%3,197
Feb 20, 20263.66%-13.61% – 3.75%3,224
Feb 19, 20263.67%-63.60% – 3.76%3,238
Feb 18, 20263.73%+23.66% – 3.85%3,258
Feb 17, 20263.71%+53.65% – 3.89%3,254
Feb 13, 20263.66%+13.61% – 3.75%3,169
Feb 12, 20263.65%03.61% – 3.75%3,205
Feb 11, 20263.65%03.61% – 3.73%3,167
Feb 10, 20263.65%+23.60% – 3.73%3,194
Feb 9, 20263.63%-13.60% – 3.72%3,132
Feb 6, 20263.64%-13.60% – 3.72%3,195
Feb 5, 20263.65%03.60% – 3.74%3,228
Feb 4, 20263.65%-43.60% – 3.74%3,310
Feb 3, 20263.69%03.64% – 3.78%3,268
Feb 2, 20263.69%+13.63% – 3.78%3,307
Jan 30, 20263.68%+33.64% – 3.78%3,275
Jan 29, 20263.65%+13.61% – 3.74%3,166
Jan 28, 20263.64%-23.61% – 3.74%3,146
Jan 27, 20263.66%03.61% – 3.76%3,145
Jan 26, 20263.66%+13.60% – 3.77%3,143
Jan 23, 20263.65%+13.60% – 3.75%3,137
Jan 22, 20263.64%+13.58% – 3.73%3,121
Jan 21, 20263.63%-13.58% – 3.72%3,087
Jan 20, 20263.64%-13.58% – 3.72%3,162
Jan 16, 20263.65%-13.60% – 3.73%3,163
Jan 15, 20263.66%+23.61% – 3.74%3,201
Jan 14, 20263.64%-13.60% – 3.73%3,148
Jan 13, 20263.65%+13.60% – 3.74%3,177
Jan 12, 20263.64%03.60% – 3.74%3,128
Jan 9, 20263.64%03.60% – 3.73%3,166
Jan 8, 20263.64%-13.59% – 3.73%3,249
Jan 7, 20263.65%-13.60% – 3.74%3,267
Jan 6, 20263.66%-43.60% – 3.74%3,390
Jan 5, 20263.70%-53.62% – 3.79%3,441
Jan 2, 20263.75%-123.69% – 3.87%3,508