An example of a popular relative strategy involves buying and / or selling the BAX contract while simultaneously selling and / or buying its U.S. proxy, the Eurodollar contract (both short term interest rate future contracts), which in turn is underlying the 3 - month U.S. dollar London Interbank Offered Rate (LIBOR). (canadianbusiness.com)
Volume in this contract rose 17.1 % to 354.4 million contracts, making it the third most actively traded interest rate futures contract in the world. (marketvoice.fia.org)
Prices for interest rate future contracts show investors see roughly 50/50 odds of an increase at the Fed's last meeting of the year in December. (fortune.com)