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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.

Welcome to Part II of the Odd Lots LIBOR series, in which Tracy and Joe take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets.

Troubles with LIBOR have kickstarted a massive project to transition to a new benchmark interest rate for financial markets. On the second episode of our series, we speak with Joe Abate, money market strategist at Barclays, about the proposed replacement known as the Secured Overnight Financing Rate, or SOFR. How is it different to LIBOR and what are the downsides of having an interest rate tied to actual marketplace transactions?

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