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 heights of popularity and patriotism are still the beaten road to power and tyranny; flattery to treachery; standing armies to arbitrary government; and the glory of God to the temporal interest of the clergy.”
—David Hume (1711–1776)
“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)
“The moment the doctrine of the immortality is separately taught, man is already fallen. In the flowing of love, in the adoration of humility, there is no question of continuance. No inspired man ever asks this question, or condescends to these evidences. For the soul is true to itself, and the man in whom it is shed abroad cannot wander from the present, which is infinite, to a future which would be finite.”
—Ralph Waldo Emerson (1803–1882)