Key facts
- Secured overnight financing rate rose to 3.65% on June 1.
- IBM pledged over $10 billion to quantum computing over five years.
The secured overnight financing rate (SOFR) saw a slight increase, reaching 3.65% on June 1, up from 3.63% on May 29. In separate news, IBM announced a significant investment of over $10 billion dedicated to advancing quantum computing over the next five years. This commitment highlights IBM's strategic focus on developing next-generation computing capabilities.