What is Fixed Income?

Fixed Income and Interest Rate futures at the CME Group relate to futures in the US government bond market.

Fixed Income futures at the CME Group are delineated by the duration of the contract. Short Term Interest Rate products (called STIRs), have short durations of between 30 days and two years. Short term futures products include Fed Fund futures and SOFR (secured overnight financing rate) futures.

Long Term Interest Rate products (usually referred to as Treasuries), have durations of between two and thirty years. These can include traditional T-bill and T-bond futures, as well as yield-based products in the ten- and thirty-year range.