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:
“My interest in desperation lies only in that sometimes I find myself having become desperate. Very seldom do I start out that way. I can see of course that, in the abstract, thinking and all activity is rather desperate.”
—Willem De Kooning (b. 1904)
“Whoever thinks his friend more important than his country, I rate him nowhere.”
—Sophocles (497–406/5 B.C.)
“I am not naturally ... “A bag of wind”; yet ... I mean deliberately and decidedly “to cut” in future all my old ideas on this head. I don’t think modesty “pays.” It is a good quality in a family, it is a domestic virtue, it makes a home happy after you have got a home, but it is not potent in getting homes. It is not a money-maker, neither is it lucky in gaining a reputation. I am of the impression that gaseous bodies do better.”
—Rutherford Birchard Hayes (1822–1893)