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)
““Terence, this is stupid stuff:
You eat your victuals fast enough;
There can’t be much amiss, ‘tis clear,
To see the rate you drink your beer.”
—A.E. (Alfred Edward)
“Plato—who may have understood better what forms the mind of man than do some of our contemporaries who want their children exposed only to “real” people and everyday events—knew what intellectual experience made for true humanity. He suggested that the future citizens of his ideal republic begin their literary education with the telling of myths, rather than with mere facts or so-called rational teachings.”
—Bruno Bettelheim (20th century)