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:
“It is the interest one takes in books that makes a library. And if a library have interest it is; if not, it isn’t.”
—Carolyn Wells (1862–1942)
“You are more than entitled not to know what the word ‘performative’ means. It is a new word and an ugly word, and perhaps it does not mean anything very much. But at any rate there is one thing in its favor, it is not a profound word.”
—J.L. (John Langshaw)
“To believe in something not yet proved and to underwrite it with our lives: it is the only way we can leave the future open. Man, surrounded by facts, permitting himself no surmise, no intuitive flash, no great hypothesis, no risk, is in a locked cell. Ignorance cannot seal the mind and imagination more surely.”
—Lillian Smith (1897–1966)