An interest rate future is a financial derivative (a futures contract) with an interest-bearing instrument as the underlying asset.
Examples include Treasury-bill futures, Treasury-bond futures and Eurodollar futures.
The global market for exchange-traded interest rate futures is notionally valued by the Bank for International Settlements at $5,794,200 million in 2005.
Famous quotes containing the words interest, rate and/or future:
“The most ingenious men continually pretend to condemn tricking—but this is often done that they may use it more conveniently themselves, when some great occasion or interest offers itself to them.”
—François, Duc De La Rochefoucauld (1613–1680)
“If I die prematurely at any rate I shall be saved from being bored to death at my own success.”
—Samuel Butler (1835–1902)
“All that grave weight of America
Cancelled! Like Greece and Rome.
The future in ruins!”
—Louis Simpson (b. 1923)