Time to the end of LIBOR: 2 years, 1 month, 21 days. —————————– LIBOR is the mother of all interest rates. SOFR is emerging as its favorite child, so an effort should be made to understand it in some depth. One concern about SOFR has been how close it is to zero, so that conceivably rates could be negative. However, despite a large volume of Treasury repos with negative rates, SOFR remains nonnegative. Repos do occur with negative rates. That’s just a fact of Treasury markets, typically occurring when a Treasury (such as the 10 year) is in high demand.…