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)
“Strange that the vanity which accompanies beauty—excusable, perhaps, when there is such great beauty, or at any rate understandable—should persist after the beauty was gone.”
—Mary A. [Elizabeth, Countess Von] Arnim (1866–1941)
“The ellipse is as aimless as that,
Stretching invisibly into the future so as to reappear
In our present. Its flexing is its account,
Return to the point of no return.”
—John Ashbery (b. 1927)