[SOFR-Fed Funds Rate Spread in the U.S. Surges, Turns Positive for the First Time in July] According to a report by Jinse Finance, on July 9, during Thursday's trading session in the U.S. market, a significant amount of buying activity in the July SOFR (Secured Overnight Financing Rate) and Fed Funds Rate spread caused the spread to turn positive for the first time. This indicates that in the July contract, the 1-month SOFR rate is lower than the Fed Funds Rate. Similar buying activity was also observed during early trading on Wednesday and Tuesday.