The Eurodollar futures market is unknown to most investors – the fact that a single contract costs $1-million keeps out most of the riffraff such as you and me – but it remains the place where the biggest, most informed, most motivated investors place their bets on interest rates. This includes the major banks that use Eurodollars as a hedge for interest-rate risk in their mammoth mortgage loan books.
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- Updated February 24 4:46 PM EST. Delayed by at least 15 minutes.