4
Forward-Forward Interest Rates and Forward Rate Agreements (FRAs)
“An important point is to consider which comes first. Are forward-forward rates (and hence futures prices and FRA rates) the mathematical result of the yield curve? Or are the market’s expectations of future rates the starting point?”
Forward-forwards, FRAs and futures
Where you see the WWW icon in the following, this calculation is available already programmed in Microsoft® Excel to be used online or downloaded (or copied and pasted) for your own use. Go to www.markets-international.com and click ‘Calculations’.
FORWARD-FORWARDS, FRAS AND FUTURES
Overview
Forward-forwards, forward rate agreements (FRAs) and futures are very similar and ...
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