Core Insights - The secured overnight financing rate (SOFR) increased to 4.31% on May 27, up from 4.26% the previous day [1] - SOFR futures open interest saw significant growth, with an increase of $2.6 million/DV01 on Thursday, approximately $995,000/DV01 on Friday, and about $760,000/DV01 on Tuesday, totaling around 174,000 new contracts and bringing the total open interest close to 1.4 million, marking a new high for the current cycle [1] - The effective federal funds rate remained unchanged at 4.33% on the last trading day, consistent with the previous day [1]