Fed Funds Futures

MacroVar monitors the Fed fund futures market and provides analytics and data on the dynamics. Fed funds futures is a very important tool to monitor market expectations for central bank monetary policy (rate hikes/cuts), financial markets and economic outlook.

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Fed Fund futures active contracts

Fed Funds Future Contract Contract Symbol
30-Day Fed Funds June 2029 Futures FedFundsF.ZQM29
30-Day Fed Funds May 2029 Futures FedFundsF.ZQK29
30-Day Fed Funds April 2029 Futures FedFundsF.ZQJ29
30-Day Fed Funds March 2029 Futures FedFundsF.ZQH29
30-Day Fed Funds February 2029 Futures FedFundsF.ZQG29
30-Day Fed Funds Jan '29 Futures FedFundsF.ZQF29
30-Day Fed Funds December 2028 Futures FedFundsF.ZQZ28
30-Day Fed Funds November 2028 Futures FedFundsF.ZQX28
30-Day Fed Funds October 2028 Futures FedFundsF.ZQV28
30-Day Fed Funds September 2028 Futures FedFundsF.ZQU28
30-Day Fed Funds August 2028 Futures FedFundsF.ZQQ28
30-Day Fed Funds July 2028 Futures FedFundsF.ZQN28
30-Day Fed Funds June 2028 Futures FedFundsF.ZQM28
30-Day Fed Funds May 2028 Futures FedFundsF.ZQK28
30-Day Fed Funds April 2028 Futures FedFundsF.ZQJ28
30-Day Fed Funds March 2028 Futures FedFundsF.ZQH28
Fed Fund Futures 12 months FedFundsF.ffc12
Fed Fund Futures 6 FedFundsF.ffc6
30-Day Fed Funds February 2028 Futures FedFundsF.ZQG28
30-Day Fed Funds November 2027 Futures FedFundsF.ZQX27
30-Day Fed Funds December 2027 Futures FedFundsF.ZQZ27
30-Day Fed Funds January 2028 Futures FedFundsF.ZQF28
30-Day Fed Funds October 2027 Futures FedFundsF.ZQV27
30-Day Fed Funds September 2027 Futures FedFundsF.ZQU27
30-Day Fed Funds August 2027 Futures FedFundsF.ZQQ27
30-Day Fed Funds July 2027 Futures FedFundsF.ZQN27
30-Day Fed Funds Jun 2027 Futures FedFundsF.ZQM27
30-Day Fed Funds May 2027 Futures FedFundsF.ZQK27
30-Day Fed Funds April 2027 Futures FedFundsF.ZQJ27
30-Day Fed Funds March 2027 Futures FedFundsF.ZQH27
30-Day Fed Funds Jan '27 Futures FedFundsF.ZQF27
30-Day Fed Funds Feb '27 Futures FedFundsF.ZQG27
30-Day Fed Funds Nov '26 Futures FedFundsF.ZQX26
30-Day Fed Funds Dec '26 Futures FedFundsF.ZQZ26
30-Day Fed Funds October 2026 Futures FedFundsF.ZQV26
30-Day Fed Funds July 2026 Futures FedFundsF.ZQN26
30-Day Fed Funds September 2026 Futures FedFundsF.ZQU26
30-Day Fed Funds August 2026 Futures FedFundsF.ZQQ26
30-Day Fed Funds April 2026 Futures FedFundsF.ZQJ26
30-Day Fed Funds June 2026 Futures FedFundsF.ZQM26
30-Day Fed Funds May 2026 Futures FedFundsF.zqj26
30-Day Fed Funds March 2026 Futures FedFundsF.zqh26
30-Day Fed Funds February 2026 Futures FedFundsF.zqg26
30-Day Fed Funds January 2026 Futures FedFundsF.zqf26
30-Day Fed Funds December 2025 Futures FedFundsF.zqz25
30-Day Fed Funds November 2025 Futures FedFundsF.zqx25
30-Day Fed Funds October 2025 Futures FedFundsF.zqv25
30-Day Fed Funds September 2025 Futures FedFundsF.zqu25
30-Day Fed Funds August 2025 Futures FedFundsF.zqq25
30-Day Fed Funds July 2025 Futures FedFundsF.zqn25
30-Day Fed Funds June 2025 Futures FedFundsF.zqm25
30-Day Fed Funds May 2025 Futures FedFundsF.zqk25
30-Day Fed Funds April 2025 Futures FedFundsF.zqj25
30-Day Fed Funds March 2025 Futures FedFundsF.zqh25
30-Day Fed Funds February 2025 Futures FedFundsF.zqg25
30-Day Fed Funds January 2025 Futures FedFundsF.zqf25
30-Day Fed Funds December 2024 Futures FedFundsF.zqz24
30-Day Fed Funds November 2024 Futures FedFundsF.zqx24
30-Day Fed Funds October 2024 Futures FedFundsF.zqv24
30-Day Fed Funds September 2024 Futures FedFundsF.zqu24
30-Day Fed Funds August 2024 Futures FedFundsF.zqq24
30-Day Fed Funds July 2024 Futures FedFundsF.zqn24
30-Day Fed Funds June 2024 Futures FedFundsF.zqm24
30-Day Fed Funds May 2024 Futures FedFundsF.zqk24
30-Day Fed Funds April 2024 Futures FedFundsF.zqj24
30-Day Fed Funds March 2024 Futures FedFundsF.zqh24
30-Day Fed Funds February 2024 Futures FedFundsF.zqg24
30-Day Fed Funds January 2024 Futures FedFundsF.zqf24
30-Day Fed Funds December 2023 Futures FedFundsF.zqz23
30-Day Fed Funds November 2023 Futures FedFundsF.zqx23
30-Day Fed Funds October 2023 Futures FedFundsF.zqv23
30-Day Fed Funds September 2023 Futures FedFundsF.zqu23
30-Day Fed Funds August 2023 Futures FedFundsF.zqq23
30-Day Fed Funds July 2023 Futures FedFundsF.zqn23
30-Day Fed Funds June 2023 Futures FedFundsF.zqm23
30-Day Fed Funds May 2023 Futures FedFundsF.zqk23
30-Day Fed Funds April 2023 Futures FedFundsF.zqj23
30-Day Fed Funds March 2023 Futures FedFundsF.zqh23
30-Day Fed Funds February 2023 Futures FedFundsF.zqg23
30-Day Fed Funds January 2023 Futures FedFundsF.zqf23
30-Day Fed Funds December 2022 Futures FedFundsF.zqz22
30-Day Fed Funds November 2022 Futures FedFundsF.zqx22
30-Day Fed Funds October 2022 Futures FedFundsF.zqv22
30-Day Fed Funds September 2022 Futures FedFundsF.zqu22
30-Day Fed Funds August 2022 Futures FedFundsF.zqq22
30-Day Fed Funds July 2022 Futures FedFundsF.zqn22
30-Day Fed Funds June 2022 Futures FedFundsF.zqm22
30-Day Fed Funds May 2022 Futures FedFundsF.zqk22
30-Day Fed Funds April 2022 Futures FedFundsF.zqj22
30-Day Fed Funds March 2022 Futures FedFundsF.zqh22
30-Day Fed Funds February 2022 Futures FedFundsF.zqg22
30-Day Fed Funds January 2022 Futures FedFundsF.zqf22
30-Day Fed Funds December 2021 Futures FedFundsF.zqz21
30-Day Fed Funds November 2021 Futures FedFundsF.zqx21
30-Day Fed Funds October 2021 Futures FedFundsF.zqv21
30-Day Fed Funds September 2021 Futures FedFundsF.zqu21
30-Day Fed Funds August 2021 Futures FedFundsF.zqq21
30-Day Fed Funds July 2021 Futures FedFundsF.zqn21
30-Day Fed Funds June 2021 Futures FedFundsF.zqm21
30-Day Fed Funds May 2021 Futures FedFundsF.zqk21
30-Day Fed Funds April 2021 Futures FedFundsF.zqj21
30-Day Fed Funds March 2021 Futures FedFundsF.zqh21
30-Day Fed Funds February 2021 Futures FedFundsF.zqg21
30-Day Fed Funds January 2021 Futures FedFundsF.zqf21
30-Day Fed Funds December 2020 Futures FedFundsF.zqz20
30-Day Fed Funds November 2020 Futures FedFundsF.zqx20
30-Day Fed Funds October 2020 Futures FedFundsF.zqv20
30-Day Fed Funds September 2020 Futures FedFundsF.zqu20
30-Day Fed Funds August 2020 Futures FedFundsF.zqq20
30-Day Fed Funds July 2020 Futures FedFundsF.zqn20
30-Day Fed Funds June 2020 Futures FedFundsF.zqm20
30-Day Fed Funds May 2020 Futures FedFundsF.zqk20
30-Day Fed Funds April 2020 Futures FedFundsF.zqj20
30-Day Fed Funds March 2020 Futures FedFundsF.zqh20
30-Day Fed Funds February 2020 Futures FedFundsF.zqg20
30-Day Fed Funds January 2020 Futures FedFundsF.zqf20
30-Day Fed Funds December 2019 Futures FedFundsF.zqz19
30-Day Fed Funds November 2019 Futures FedFundsF.zqx19
30-Day Fed Funds October 2019 Futures FedFundsF.zqv19
30-Day Fed Funds September 2019 Futures FedFundsF.zqu19
30-Day Fed Funds August 2019 Futures FedFundsF.zqq19
30-Day Fed Funds July 2019 Futures FedFundsF.zqn19
30-Day Fed Funds June 2019 Futures FedFundsF.zqm19
30-Day Fed Funds May 2019 Futures FedFundsF.zqk19
30-Day Fed Funds April 2019 Futures FedFundsF.zqj19
30-Day Fed Funds March 2019 Futures FedFundsF.zqh19
30-Day Fed Funds February 2019 Futures FedFundsF.zqg19
30-Day Fed Funds January 2019 Futures FedFundsF.zqf19
30-Day Fed Funds December 2018 Futures FedFundsF.zqz18
30-Day Fed Funds November 2018 Futures FedFundsF.zqx18
30-Day Fed Funds October 2018 Futures FedFundsF.zqv18
30-Day Fed Funds September 2018 Futures FedFundsF.zqu18
30-Day Fed Funds August 2018 Futures FedFundsF.zqq18
30-Day Fed Funds July 2018 Futures FedFundsF.zqn18
30-Day Fed Funds June 2018 Futures FedFundsF.zqm18
30-Day Fed Funds May 2018 Futures FedFundsF.zqk18
30-Day Fed Funds April 2018 Futures FedFundsF.zqj18
30-Day Fed Funds March 2018 Futures FedFundsF.zqh18
30-Day Fed Funds February 2018 Futures FedFundsF.zqg18
30-Day Fed Funds January 2018 Futures FedFundsF.zqf18
30-Day Fed Funds December 2017 Futures FedFundsF.zqz17
30-Day Fed Funds November 2017 Futures FedFundsF.zqx17
30-Day Fed Funds October 2017 Futures FedFundsF.zqv17
30-Day Fed Funds September 2017 Futures FedFundsF.zqu17
30-Day Fed Funds August 2017 Futures FedFundsF.zqq17
30-Day Fed Funds July 2017 Futures FedFundsF.zqn17
30-Day Fed Funds June 2017 Futures FedFundsF.zqm17
30-Day Fed Funds May 2017 Futures FedFundsF.zqk17
30-Day Fed Funds April 2017 Futures FedFundsF.zqj17
30-Day Fed Funds March 2017 Futures FedFundsF.zqh17
30-Day Fed Funds February 2017 Futures FedFundsF.zqg17
30-Day Fed Funds January 2017 Futures FedFundsF.zqf17
30-Day Fed Funds December 2016 Futures FedFundsF.zqz16
30-Day Fed Funds November 2016 Futures FedFundsF.zqx16
30-Day Fed Funds October 2016 Futures FedFundsF.zqv16
30-Day Fed Funds September 2016 Futures FedFundsF.zqu16
30-Day Fed Funds August 2016 Futures FedFundsF.zqq16
30-Day Fed Funds July 2016 Futures FedFundsF.zqn16
30-Day Fed Funds June 2016 Futures FedFundsF.zqm16
30-Day Fed Funds May 2016 Futures FedFundsF.zqk16
30-Day Fed Funds April 2016 Futures FedFundsF.zqj16
30-Day Fed Funds March 2016 Futures FedFundsF.zqh16
30-Day Fed Funds February 2016 Futures FedFundsF.zqg16
30-Day Fed Funds January 2016 Futures FedFundsF.zqf16
30-Day Fed Funds December 2015 Futures FedFundsF.zqz15
30-Day Fed Funds November 2015 Futures FedFundsF.zqx15
30-Day Fed Funds October 2015 Futures FedFundsF.zqv15
30-Day Fed Funds September 2015 Futures FedFundsF.zqu15
30-Day Fed Funds August 2015 Futures FedFundsF.zqq15
30-Day Fed Funds July 2015 Futures FedFundsF.zqn15
30-Day Fed Funds June 2015 Futures FedFundsF.zqm15
30-Day Fed Funds May 2015 Futures FedFundsF.zqk15
30-Day Fed Funds April 2015 Futures FedFundsF.zqj15
30-Day Fed Funds March 2015 Futures FedFundsF.zqh15
30-Day Fed Funds February 2015 Futures FedFundsF.zqg15
30-Day Fed Funds January 2015 Futures FedFundsF.zqf15
30-Day Fed Funds December 2014 Futures FedFundsF.zqz14
30-Day Fed Funds November 2014 Futures FedFundsF.zqx14
30-Day Fed Funds October 2014 Futures FedFundsF.zqv14
30-Day Fed Funds September 2014 Futures FedFundsF.zqu14
30-Day Fed Funds August 2014 Futures FedFundsF.zqq14
30-Day Fed Funds July 2014 Futures FedFundsF.zqn14
30-Day Fed Funds June 2014 Futures FedFundsF.zqm14
30-Day Fed Funds May 2014 Futures FedFundsF.zqk14
30-Day Fed Funds April 2014 Futures FedFundsF.zqj14
30-Day Fed Funds March 2014 Futures FedFundsF.zqh14
30-Day Fed Funds February 2014 Futures FedFundsF.zqg14
30-Day Fed Funds January 2014 Futures FedFundsF.zqf14
30-Day Fed Funds December 2013 Futures FedFundsF.zqz13
30-Day Fed Funds November 2013 Futures FedFundsF.zqx13
30-Day Fed Funds October 2013 Futures FedFundsF.zqv13
30-Day Fed Funds September 2013 Futures FedFundsF.zqu13
30-Day Fed Funds August 2013 Futures FedFundsF.zqq13
30-Day Fed Funds July 2013 Futures FedFundsF.zqn13
30-Day Fed Funds June 2013 Futures FedFundsF.zqm13
30-Day Fed Funds May 2013 Futures FedFundsF.zqk13
30-Day Fed Funds April 2013 Futures FedFundsF.zqj13
30-Day Fed Funds March 2013 Futures FedFundsF.zqh13
30-Day Fed Funds February 2013 Futures FedFundsF.zqg13
30-Day Fed Funds January 2013 Futures FedFundsF.zqf13
30-Day Fed Funds December 2012 Futures FedFundsF.zqz12
30-Day Fed Funds November 2012 Futures FedFundsF.zqx12
30-Day Fed Funds October 2012 Futures FedFundsF.zqv12
30-Day Fed Funds September 2012 Futures FedFundsF.zqu12
30-Day Fed Funds August 2012 Futures FedFundsF.zqq12
30-Day Fed Funds July 2012 Futures FedFundsF.zqn12
30-Day Fed Funds June 2012 Futures FedFundsF.zqm12
30-Day Fed Funds May 2012 Futures FedFundsF.zqk12
30-Day Fed Funds April 2012 Futures FedFundsF.zqj12
30-Day Fed Funds March 2012 Futures FedFundsF.zqh12
30-Day Fed Funds February 2012 Futures FedFundsF.zqg12
30-Day Fed Funds January 2012 Futures FedFundsF.zqf12
30-Day Fed Funds December 2011 Futures FedFundsF.zqz11
30-Day Fed Funds November 2011 Futures FedFundsF.zqx11
30-Day Fed Funds October 2011 Futures FedFundsF.zqv11
30-Day Fed Funds September 2011 Futures FedFundsF.zqu11
30-Day Fed Funds August 2011 Futures FedFundsF.zqq11
30-Day Fed Funds July 2011 Futures FedFundsF.zqn11
30-Day Fed Funds June 2011 Futures FedFundsF.zqm11
30-Day Fed Funds May 2011 Futures FedFundsF.zqk11
30-Day Fed Funds April 2011 Futures FedFundsF.zqj11
30-Day Fed Funds March 2011 Futures FedFundsF.zqh11
30-Day Fed Funds February 2011 Futures FedFundsF.zqg11
30-Day Fed Funds January 2011 Futures FedFundsF.zqf11
30-Day Fed Funds December 2010 Futures FedFundsF.zqz10
30-Day Fed Funds November 2010 Futures FedFundsF.zqx10
30-Day Fed Funds October 2010 Futures FedFundsF.zqv10
30-Day Fed Funds September 2010 Futures FedFundsF.zqu10
30-Day Fed Funds August 2010 Futures FedFundsF.zqq10
30-Day Fed Funds July 2010 Futures FedFundsF.zqn10
30-Day Fed Funds June 2010 Futures FedFundsF.zqm10
30-Day Fed Funds May 2010 Futures FedFundsF.zqk10
30-Day Fed Funds April 2010 Futures FedFundsF.zqj10
30-Day Fed Funds March 2010 Futures FedFundsF.zqh10
30-Day Fed Funds February 2010 Futures FedFundsF.zqg10
30-Day Fed Funds January 2010 Futures FedFundsF.zqf10
30-Day Fed Funds December 2009 Futures FedFundsF.zqz09
30-Day Fed Funds November 2009 Futures FedFundsF.zqx09
30-Day Fed Funds October 2009 Futures FedFundsF.zqv09
30-Day Fed Funds September 2009 Futures FedFundsF.zqu09
30-Day Fed Funds August 2009 Futures FedFundsF.zqq09
30-Day Fed Funds July 2009 Futures FedFundsF.zqn09
30-Day Fed Funds June 2009 Futures FedFundsF.zqm09
30-Day Fed Funds May 2009 Futures FedFundsF.zqk09
30-Day Fed Funds April 2009 Futures FedFundsF.zqj09
30-Day Fed Funds March 2009 Futures FedFundsF.zqh09
30-Day Fed Funds February 2009 Futures FedFundsF.zqg09
30-Day Fed Funds January 2009 Futures FedFundsF.zqf09
30-Day Fed Funds December 2008 Futures FedFundsF.zqz08
30-Day Fed Funds November 2008 Futures FedFundsF.zqx08
30-Day Fed Funds October 2008 Futures FedFundsF.zqv08
30-Day Fed Funds September 2008 Futures FedFundsF.zqu08
30-Day Fed Funds August 2008 Futures FedFundsF.zqq08
30-Day Fed Funds July 2008 Futures FedFundsF.zqn08
30-Day Fed Funds June 2008 Futures FedFundsF.zqm08
30-Day Fed Funds May 2008 Futures FedFundsF.zqk08
30-Day Fed Funds April 2008 Futures FedFundsF.zqj08
30-Day Fed Funds March 2008 Futures FedFundsF.zqh08
30-Day Fed Funds February 2008 Futures FedFundsF.zqg08
30-Day Fed Funds January 2008 Futures FedFundsF.zqf08
30-Day Fed Funds December 2007 Futures FedFundsF.zqz07
30-Day Fed Funds November 2007 Futures FedFundsF.zqx07
30-Day Fed Funds October 2007 Futures FedFundsF.zqv07
30-Day Fed Funds September 2007 Futures FedFundsF.zqu07
30-Day Fed Funds August 2007 Futures FedFundsF.zqq07
30-Day Fed Funds July 2007 Futures FedFundsF.zqn07
30-Day Fed Funds June 2007 Futures FedFundsF.zqm07
30-Day Fed Funds May 2007 Futures FedFundsF.zqk07
30-Day Fed Funds April 2007 Futures FedFundsF.zqj07
30-Day Fed Funds March 2007 Futures FedFundsF.zqh07
30-Day Fed Funds February 2007 Futures FedFundsF.zqg07
30-Day Fed Funds January 2007 Futures FedFundsF.zqf07
30-Day Fed Funds December 2006 Futures FedFundsF.zqz06
30-Day Fed Funds November 2006 Futures FedFundsF.zqx06
30-Day Fed Funds October 2006 Futures FedFundsF.zqv06
30-Day Fed Funds September 2006 Futures FedFundsF.zqu06
30-Day Fed Funds August 2006 Futures FedFundsF.zqq06
30-Day Fed Funds July 2006 Futures FedFundsF.zqn06
30-Day Fed Funds June 2006 Futures FedFundsF.zqm06
30-Day Fed Funds May 2006 Futures FedFundsF.zqk06
30-Day Fed Funds April 2006 Futures FedFundsF.zqj06
30-Day Fed Funds March 2006 Futures FedFundsF.zqh06
30-Day Fed Funds February 2006 Futures FedFundsF.zqg06
30-Day Fed Funds January 2006 Futures FedFundsF.zqf06
30-Day Fed Funds December 2005 Futures FedFundsF.zqz05
30-Day Fed Funds November 2005 Futures FedFundsF.zqx05
30-Day Fed Funds October 2005 Futures FedFundsF.zqv05
30-Day Fed Funds September 2005 Futures FedFundsF.zqu05
30-Day Fed Funds August 2005 Futures FedFundsF.zqq05
30-Day Fed Funds July 2005 Futures FedFundsF.zqn05
30-Day Fed Funds June 2005 Futures FedFundsF.zqm05
30-Day Fed Funds May 2005 Futures FedFundsF.zqk05
30-Day Fed Funds April 2005 Futures FedFundsF.zqj05
30-Day Fed Funds March 2005 Futures FedFundsF.zqh05
30-Day Fed Funds February 2005 Futures FedFundsF.zqg05
30-Day Fed Funds January 2005 Futures FedFundsF.zqf05
30-Day Fed Funds December 2004 Futures FedFundsF.zqz04
30-Day Fed Funds November 2004 Futures FedFundsF.zqx04
30-Day Fed Funds October 2004 Futures FedFundsF.zqv04
30-Day Fed Funds September 2004 Futures FedFundsF.zqu04
30-Day Fed Funds August 2004 Futures FedFundsF.zqq04
30-Day Fed Funds July 2004 Futures FedFundsF.zqn04
30-Day Fed Funds June 2004 Futures FedFundsF.zqm04
30-Day Fed Funds May 2004 Futures FedFundsF.zqk04
30-Day Fed Funds April 2004 Futures FedFundsF.zqj04
30-Day Fed Funds March 2004 Futures FedFundsF.zqh04
30-Day Fed Funds February 2004 Futures FedFundsF.zqg04
30-Day Fed Funds January 2004 Futures FedFundsF.zqf04
30-Day Fed Funds December 2003 Futures FedFundsF.zqz03
30-Day Fed Funds November 2003 Futures FedFundsF.zqx03
30-Day Fed Funds October 2003 Futures FedFundsF.zqv03
30-Day Fed Funds September 2003 Futures FedFundsF.zqu03
30-Day Fed Funds August 2003 Futures FedFundsF.zqq03
30-Day Fed Funds July 2003 Futures FedFundsF.zqn03
30-Day Fed Funds June 2003 Futures FedFundsF.zqm03
30-Day Fed Funds May 2003 Futures FedFundsF.zqk03
30-Day Fed Funds April 2003 Futures FedFundsF.zqj03
30-Day Fed Funds March 2003 Futures FedFundsF.zqh03
30-Day Fed Funds February 2003 Futures FedFundsF.zqg03
30-Day Fed Funds January 2003 Futures FedFundsF.zqf03
30-Day Fed Funds December 2002 Futures FedFundsF.zqz02
30-Day Fed Funds November 2002 Futures FedFundsF.zqx02
30-Day Fed Funds October 2002 Futures FedFundsF.zqv02
30-Day Fed Funds September 2002 Futures FedFundsF.zqu02
30-Day Fed Funds August 2002 Futures FedFundsF.zqq02
30-Day Fed Funds July 2002 Futures FedFundsF.zqn02
30-Day Fed Funds June 2002 Futures FedFundsF.zqm02
30-Day Fed Funds May 2002 Futures FedFundsF.zqk02
30-Day Fed Funds April 2002 Futures FedFundsF.zqj02
30-Day Fed Funds March 2002 Futures FedFundsF.zqh02
30-Day Fed Funds February 2002 Futures FedFundsF.zqg02
30-Day Fed Funds January 2002 Futures FedFundsF.zqf02
30-Day Fed Funds December 2001 Futures FedFundsF.zqz01
30-Day Fed Funds November 2001 Futures FedFundsF.zqx01
30-Day Fed Funds October 2001 Futures FedFundsF.zqv01
30-Day Fed Funds September 2001 Futures FedFundsF.zqu01
30-Day Fed Funds August 2001 Futures FedFundsF.zqq01
30-Day Fed Funds July 2001 Futures FedFundsF.zqn01
30-Day Fed Funds June 2001 Futures FedFundsF.zqm01
30-Day Fed Funds May 2001 Futures FedFundsF.zqk01
30-Day Fed Funds April 2001 Futures FedFundsF.zqj01
30-Day Fed Funds March 2001 Futures FedFundsF.zqh01
30-Day Fed Funds February 2001 Futures FedFundsF.zqg01
30-Day Fed Funds January 2001 Futures FedFundsF.zqf01
30-Day Fed Funds December 2000 Futures FedFundsF.zqz00
30-Day Fed Funds November 2000 Futures FedFundsF.zqx00
30-Day Fed Funds October 2000 Futures FedFundsF.zqv00
30-Day Fed Funds September 2000 Futures FedFundsF.zqu00
30-Day Fed Funds August 2000 Futures FedFundsF.zqq00
30-Day Fed Funds July 2000 Futures FedFundsF.zqn00
30-Day Fed Funds June 2000 Futures FedFundsF.zqm00
30-Day Fed Funds May 2000 Futures FedFundsF.zqk00
30-Day Fed Funds April 2000 Futures FedFundsF.zqj00
30-Day Fed Funds March 2000 Futures FedFundsF.zqh00
30-Day Fed Funds February 2000 Futures FedFundsF.zqg00
30-Day Fed Funds January 2000 Futures FedFundsF.zqf00
30-Day Fed Funds December 1999 Futures FedFundsF.zqz99
30-Day Fed Funds November 1999 Futures FedFundsF.zqx99
30-Day Fed Funds October 1999 Futures FedFundsF.zqv99
30-Day Fed Funds September 1999 Futures FedFundsF.zqu99
30-Day Fed Funds August 1999 Futures FedFundsF.zqq99
30-Day Fed Funds July 1999 Futures FedFundsF.zqn99
30-Day Fed Funds June 1999 Futures FedFundsF.zqm99
30-Day Fed Funds May 1999 Futures FedFundsF.zqk99
30-Day Fed Funds April 1999 Futures FedFundsF.zqj99
30-Day Fed Funds March 1999 Futures FedFundsF.zqh99
30-Day Fed Funds February 1999 Futures FedFundsF.zqg99
30-Day Fed Funds January 1999 Futures FedFundsF.zqf99
30-Day Fed Funds December 1998 Futures FedFundsF.zqz98
30-Day Fed Funds November 1998 Futures FedFundsF.zqx98
30-Day Fed Funds October 1998 Futures FedFundsF.zqv98
30-Day Fed Funds September 1998 Futures FedFundsF.zqu98
30-Day Fed Funds August 1998 Futures FedFundsF.zqq98
30-Day Fed Funds July 1998 Futures FedFundsF.zqn98
30-Day Fed Funds June 1998 Futures FedFundsF.zqm98
30-Day Fed Funds May 1998 Futures FedFundsF.zqk98
30-Day Fed Funds April 1998 Futures FedFundsF.zqj98
30-Day Fed Funds March 1998 Futures FedFundsF.zqh98
30-Day Fed Funds February 1998 Futures FedFundsF.zqg98
30-Day Fed Funds January 1998 Futures FedFundsF.zqf98
30-Day Fed Funds December 1997 Futures FedFundsF.zqz97
30-Day Fed Funds November 1997 Futures FedFundsF.zqx97
30-Day Fed Funds October 1997 Futures FedFundsF.zqv97
30-Day Fed Funds September 1997 Futures FedFundsF.zqu97
30-Day Fed Funds August 1997 Futures FedFundsF.zqq97
30-Day Fed Funds July 1997 Futures FedFundsF.zqn97
30-Day Fed Funds June 1997 Futures FedFundsF.zqm97
30-Day Fed Funds May 1997 Futures FedFundsF.zqk97
30-Day Fed Funds April 1997 Futures FedFundsF.zqj97
30-Day Fed Funds March 1997 Futures FedFundsF.zqh97
30-Day Fed Funds February 1997 Futures FedFundsF.zqg97
30-Day Fed Funds January 1997 Futures FedFundsF.zqf97
30-Day Fed Funds December 1996 Futures FedFundsF.zqz96
30-Day Fed Funds November 1996 Futures FedFundsF.zqx96
30-Day Fed Funds October 1996 Futures FedFundsF.zqv96
30-Day Fed Funds September 1996 Futures FedFundsF.zqu96
30-Day Fed Funds August 1996 Futures FedFundsF.zqq96
30-Day Fed Funds July 1996 Futures FedFundsF.zqn96
30-Day Fed Funds June 1996 Futures FedFundsF.zqm96
30-Day Fed Funds May 1996 Futures FedFundsF.zqk96
30-Day Fed Funds April 1996 Futures FedFundsF.zqj96
30-Day Fed Funds March 1996 Futures FedFundsF.zqh96
30-Day Fed Funds February 1996 Futures FedFundsF.zqg96
30-Day Fed Funds January 1996 Futures FedFundsF.zqf96
30-Day Fed Funds December 1995 Futures FedFundsF.zqz95
30-Day Fed Funds November 1995 Futures FedFundsF.zqx95
30-Day Fed Funds October 1995 Futures FedFundsF.zqv95
30-Day Fed Funds September 1995 Futures FedFundsF.zqu95
30-Day Fed Funds August 1995 Futures FedFundsF.zqq95
30-Day Fed Funds July 1995 Futures FedFundsF.zqn95
30-Day Fed Funds June 1995 Futures FedFundsF.zqm95
30-Day Fed Funds May 1995 Futures FedFundsF.zqk95
30-Day Fed Funds April 1995 Futures FedFundsF.zqj95
30-Day Fed Funds March 1995 Futures FedFundsF.zqh95
30-Day Fed Funds February 1995 Futures FedFundsF.zqg95
30-Day Fed Funds January 1995 Futures FedFundsF.zqf95
30-Day Fed Funds December 1994 Futures FedFundsF.zqz94
30-Day Fed Funds November 1994 Futures FedFundsF.zqx94
30-Day Fed Funds October 1994 Futures FedFundsF.zqv94
30-Day Fed Funds September 1994 Futures FedFundsF.zqu94
30-Day Fed Funds August 1994 Futures FedFundsF.zqq94
30-Day Fed Funds July 1994 Futures FedFundsF.zqn94
30-Day Fed Funds June 1994 Futures FedFundsF.zqm94
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30-Day Fed Funds April 1994 Futures FedFundsF.zqj94
30-Day Fed Funds March 1994 Futures FedFundsF.zqh94
30-Day Fed Funds February 1994 Futures FedFundsF.zqg94
30-Day Fed Funds January 1994 Futures FedFundsF.zqf94
30-Day Fed Funds December 1993 Futures FedFundsF.zqz93
30-Day Fed Funds November 1993 Futures FedFundsF.zqx93
30-Day Fed Funds October 1993 Futures FedFundsF.zqv93
30-Day Fed Funds September 1993 Futures FedFundsF.zqu93
30-Day Fed Funds August 1993 Futures FedFundsF.zqq93
30-Day Fed Funds July 1993 Futures FedFundsF.zqn93
30-Day Fed Funds June 1993 Futures FedFundsF.zqm93
30-Day Fed Funds May 1993 Futures FedFundsF.zqk93
30-Day Fed Funds April 1993 Futures FedFundsF.zqj93
30-Day Fed Funds March 1993 Futures FedFundsF.zqh93
30-Day Fed Funds February 1993 Futures FedFundsF.zqg93
30-Day Fed Funds January 1993 Futures FedFundsF.zqf93
30-Day Fed Funds December 1992 Futures FedFundsF.zqz92
30-Day Fed Funds November 1992 Futures FedFundsF.zqx92
30-Day Fed Funds October 1992 Futures FedFundsF.zqv92
30-Day Fed Funds September 1992 Futures FedFundsF.zqu92
30-Day Fed Funds August 1992 Futures FedFundsF.zqq92
30-Day Fed Funds July 1992 Futures FedFundsF.zqn92
30-Day Fed Funds June 1992 Futures FedFundsF.zqm92
30-Day Fed Funds May 1992 Futures FedFundsF.zqk92
30-Day Fed Funds April 1992 Futures FedFundsF.zqj92
30-Day Fed Funds March 1992 Futures FedFundsF.zqh92
30-Day Fed Funds February 1992 Futures FedFundsF.zqg92
30-Day Fed Funds January 1992 Futures FedFundsF.zqf92
30-Day Fed Funds December 1991 Futures FedFundsF.zqz91
30-Day Fed Funds November 1991 Futures FedFundsF.zqx91
30-Day Fed Funds October 1991 Futures FedFundsF.zqv91
30-Day Fed Funds September 1991 Futures FedFundsF.zqu91
30-Day Fed Funds August 1991 Futures FedFundsF.zqq91
30-Day Fed Funds July 1991 Futures FedFundsF.zqn91
30-Day Fed Funds June 1991 Futures FedFundsF.zqm91
30-Day Fed Funds May 1991 Futures FedFundsF.zqk91
30-Day Fed Funds April 1991 Futures FedFundsF.zqj91
30-Day Fed Funds March 1991 Futures FedFundsF.zqh91
30-Day Fed Funds February 1991 Futures FedFundsF.zqg91
30-Day Fed Funds January 1991 Futures FedFundsF.zqf91
30-Day Fed Funds December 1990 Futures FedFundsF.zqz90
30-Day Fed Funds November 1990 Futures FedFundsF.zqx90
30-Day Fed Funds October 1990 Futures FedFundsF.zqv90
30-Day Fed Funds September 1990 Futures FedFundsF.zqu90
30-Day Fed Funds August 1990 Futures FedFundsF.zqq90
30-Day Fed Funds July 1990 Futures FedFundsF.zqn90
30-Day Fed Funds June 1990 Futures FedFundsF.zqm90
30-Day Fed Funds May 1990 Futures FedFundsF.zqk90
30-Day Fed Funds April 1990 Futures FedFundsF.zqj90
30-Day Fed Funds March 1990 Futures FedFundsF.zqh90
30-Day Fed Funds February 1990 Futures FedFundsF.zqg90
30-Day Fed Funds January 1990 Futures FedFundsF.zqf90
30-Day Fed Funds December 1989 Futures FedFundsF.zqz89
30-Day Fed Funds November 1989 Futures FedFundsF.zqx89
30-Day Fed Funds October 1989 Futures FedFundsF.zqv89
30-Day Fed Funds September 1989 Futures FedFundsF.zqu89
30-Day Fed Funds August 1989 Futures FedFundsF.zqq89
30-Day Fed Funds July 1989 Futures FedFundsF.zqn89
30-Day Fed Funds June 1989 Futures FedFundsF.zqm89
30-Day Fed Funds May 1989 Futures FedFundsF.zqk89
30-Day Fed Funds April 1989 Futures FedFundsF.zqj89
30-Day Fed Funds March 1989 Futures FedFundsF.zqh89
30-Day Fed Funds February 1989 Futures FedFundsF.zqg89
30-Day Fed Funds January 1989 Futures FedFundsF.zqf89
30-Day Fed Funds December 1988 Futures FedFundsF.zqz88
30-Day Fed Funds November 1988 Futures FedFundsF.zqx88
30-Day Fed Funds October 1988 Futures FedFundsF.zqv88

What Are Fed Funds futures

Fed Funds Futures are financial derivatives contracts that allow market participants to speculate on or hedge against future changes in the Federal Funds Rate. The Federal Funds Rate is the interest rate at which depository institutions (such as banks and credit unions) lend reserve balances to other depository institutions overnight in the United States. It is a key short-term interest rate that influences borrowing and lending rates throughout the economy.

Fed Funds futures
Fed Funds futures

Here are the key components and characteristics of Fed Funds Futures:

  1. Underlying Asset: The underlying asset for Fed Funds Futures is the effective Federal Funds Rate, which is the average rate at which banks lend to one another in the federal funds market.
  2. Contract Size: Each Fed Funds Futures contract typically represents a notional amount of $5 million.
  3. Settlement Period: Fed Funds Futures contracts are settled monthly, with each contract corresponding to a specific month in the future.
  4. Pricing: The price of a Fed Funds Futures contract is quoted as 100 minus the expected future Federal Funds Rate. For example, if the futures price is 99.50, it implies an expected Federal Funds Rate of 0.50%. If it’s 99.75, it implies a rate of 0.25%. The price reflects market expectations for the Federal Funds Rate at the contract’s expiration.
  5. Trading and Expiration: Fed Funds Futures contracts trade on various futures exchanges, such as the Chicago Mercantile Exchange (CME). They have specific expiration dates, usually on the last business day of the contract month.
  6. Settlement: Settlement of Fed Funds Futures is in cash. The profit or loss for the holder of a contract is determined by the difference between the futures price at which they entered the contract and the effective Federal Funds Rate on the contract’s expiration date.
  7. Hedging and Speculation: Market participants use Fed Funds Futures for different purposes. Banks and financial institutions may use them to hedge interest rate risk in their portfolios, while speculators may trade them to profit from interest rate movements or to express a view on the direction of monetary policy.
  8. Connection to Monetary Policy: Changes in the Federal Funds Rate are typically determined by the Federal Reserve as a tool to implement monetary policy. Therefore, Fed Funds Futures can be used as an indicator of market expectations regarding future monetary policy actions by the central bank.

Fed Funds Futures are an important tool for market participants and policymakers to gauge market sentiment about future interest rate movements. They are often used in conjunction with other interest rate derivatives to manage and mitigate interest rate risk in financial markets.

Interpreting the Fed Funds Forward Curve dynamics

When the US economy is strong and inflation expectations are rising the market is expecting central banks to raise rates in order to decelerate economic and inflation expectations. Short-term interest rates like the Fed Funds are linked to the macroeconomic environment, fiscal and monetary policies and the financial markets (commodities).

Hence, short term interest rates should be expected to rise and their related futures which are the 3-month Fed Funds futures should sell off (note: implied interest rate for futures is calculated as 100 minus the futures price). At the same time and since markets are interrelated, fixed income markets are linked the Yield Curve (10-year minus 3-month). The Yield curve steepens when growth expectations are rising and flattens when growth falls (MacroVar monitors all macroeconomic and financial factors which are leading indicators of growth expectations).

When central banks set rates correctly, we should expect smooth slope implied curve in the short term interest rate futures markets.

Highly sloping implied rate curves imply that the central bank reacted too late, the economy has overheated causing inflationary pressures and the futures markets imply aggressive interest rate hikes.

An Inverted implied rate curve implies that the central bank reacted too late, hence has to be more aggressive in order to combat inflation pressures, causing the business cycle to shorten, a possible recession due to early fast hikes and interest rate cuts later on to combat an impeding recession.

The Federal reserves's FOMC meetings affect these markets to a large extent. When the FED becomes more hawkish (tendency to raise rates) or dovish by either adjusting interest rates and/or use QE/QT, it affects the Short-term interest rates futures markets directly.

When the US 2-year bond yield which is determined by market forces falls below the FED refinancing rate it implies the market expects FED to cut interest rates in the short-term future in order to boost the economy which is currently weak.