# ![@Interest_Rates Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1658853693775572999.png) @Interest_Rates CME Group Interest Rates

CME Group's interest rate futures complex has reached a new record with open interest up significantly year-over-year. Specifically, open interest in various contracts, including Treasury futures, SOFR futures, and 5-year note futures, has surged to all-time highs. This growth is driven by changing Fed expectations and increased market activity.

### Engagements: [---] [#](/creator/twitter::1658853693775572999/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1658853693775572999/c:line/m:interactions.svg)

- [--] Week [------] +12%
- [--] Month [------] +88%
- [--] Months [-------] -44%
- [--] Year [---------] -70%

### Mentions: [--] [#](/creator/twitter::1658853693775572999/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1658853693775572999/c:line/m:posts_active.svg)

- [--] Week [--] -9.10%
- [--] Month [--] -32%
- [--] Months [---] -11%
- [--] Year [---] +32%

### Followers: [------] [#](/creator/twitter::1658853693775572999/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1658853693775572999/c:line/m:followers.svg)

- [--] Week [------] +0.60%
- [--] Month [------] +2.20%
- [--] Months [------] +39%
- [--] Year [------] +125%

### CreatorRank: [---------] [#](/creator/twitter::1658853693775572999/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1658853693775572999/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[stocks](/list/stocks)  60.4% [finance](/list/finance)  32.67% [countries](/list/countries)  2.97% [currencies](/list/currencies)  1.98%

**Social topic influence**
[futures](/topic/futures) #399, [the first](/topic/the-first) 11.88%, [alltime](/topic/alltime) 10.89%, [fed funds](/topic/fed-funds) 9.9%, [fed](/topic/fed) #541, [history](/topic/history) 6.93%, [liquidity](/topic/liquidity) 3.96%, [$166b](/topic/$166b) 3.96%, [in the](/topic/in-the) 3.96%, [fomc](/topic/fomc) 3.96%

**Top accounts mentioned or mentioned by**
[@piqsuite](/creator/undefined) [@interestrates](/creator/undefined) [@arthurkorff](/creator/undefined) [@moneymenpod](/creator/undefined) [@terrytakes101](/creator/undefined)

**Top assets mentioned**
[CME Group Inc (CME)](/topic/$cme)
### Top Social Posts
Top posts by engagements in the last [--] hours

"📄 NEW foundational reading: Pricing & Hedging USD IRS with #SOFR Futures Building a USD yield curve with SR3 Replicating IRS with SR3 strips Calculating futures hedges to offset/replace IRS Convexity adjustments necessary to pricing http://spr.ly/60114B0J5 http://spr.ly/60114B0J5"  
[X Link](https://x.com/Interest_Rates/status/1930316694859153491)  2025-06-04T17:32Z 12.8K followers, 32.7K engagements


"#SOFR futures curve today vs. a week ago a month ago a quarter ago"  
[X Link](https://x.com/Interest_Rates/status/1962959457463239038)  2025-09-02T19:22Z 12.8K followers, 25.1K engagements


"Quiet SOFR-Fed Funds basis Far from it. Trading in SOFR vs. Fed Funds futures (SERFF) spreads hit an all-time high yesterday as the Fed cut its policy rate by [--] bps and announced the end of QT (maturing MBS to be reinvested in Bills)"  
[X Link](https://x.com/Interest_Rates/status/1983897725801214256)  2025-10-30T14:04Z 12.8K followers, 18.8K engagements


"📈 Check out our [----] annual chart book visualizing key measures of liquidity across interest rate futures and options. #STIRs #Treasuries #SOFR http://spr.ly/6010hRc1r http://spr.ly/6010hRc1r"  
[X Link](https://x.com/Interest_Rates/status/2021930299379109939)  2026-02-12T12:52Z 12.8K followers, [----] engagements


"#FedWatch: Market-implied probabilities for [----] pre-FOMC decision and press conference"  
[X Link](https://x.com/Interest_Rates/status/2016585523033157854)  2026-01-28T18:53Z 12.7K followers, 13.4K engagements


"SOFR futures curve post Warsh announcement. SR3 prices moderately higher from June and beyond. Though two [--] bp cuts remains base case for post-Powell Fed. At least for now"  
[X Link](https://x.com/Interest_Rates/status/2017274579710796194)  2026-01-30T16:31Z 12.8K followers, [----] engagements


"February kicks off with European rate decisions info on the Warsh pick for the Fed and the Jobs Report. Mon: T-Bill Auctions ($166B) ISM Manufacturing Tue: JOLTS Report Wed: EU Inflation Flash ISM Services Thu: BoE Rate Decision ECB Rate Decision Fri: Non Farm Payrolls"  
[X Link](https://x.com/Interest_Rates/status/2018313959384707256)  2026-02-02T13:22Z 12.7K followers, [----] engagements


"Liquidity is reaching new levels in the Ultra [--] Treasury Options market. 🌊 Check out January YoY numbers: - ADV: Up 10x vs. Jan '25 - Average Daily Open Interest: Surged to 32k+"  
[X Link](https://x.com/Interest_Rates/status/2018392683862020534)  2026-02-02T18:34Z 12.8K followers, [----] engagements


"It has been a climb for the 2Y-10Y Rate Spread ⛰ Now at [--] year highs the 2Y-10Y spread is at 74bps up over 180bps from the lows seen in mid-2023"  
[X Link](https://x.com/Interest_Rates/status/2019878850595823633)  2026-02-06T21:00Z 12.8K followers, [----] engagements


"This week funding across the curve a delayed jobs report and CPI take center stage for Rates: Mon: T-Bill Auctions ($166B) Tue: 3-Yr Auction ($58B) Retail Sales Wed: 10-Yr Auction ($42B) Non Farm Payrolls Thu: 30-Yr Auction ($25B) UK GDP Fri: U.S. Inflation"  
[X Link](https://x.com/Interest_Rates/status/2020850924822925793)  2026-02-09T13:23Z 12.8K followers, [----] engagements


"All eyes on tomorrow's NFP report. Could another weak jobs report put more rate cuts in play for the Fed in 2026"  
[X Link](https://x.com/Interest_Rates/status/2021270417747439931)  2026-02-10T17:09Z 12.8K followers, [----] engagements


"#SOFR spreads tumble post-CPI as rate cut expectations move out the curve"  
[X Link](https://x.com/Interest_Rates/status/2022352346634732006)  2026-02-13T16:49Z 12.8K followers, [----] engagements


"SOFR options expirations visualized"  
[X Link](https://x.com/anyuser/status/1811115336843805070)  2024-07-10T19:08Z 12.7K followers, 11.4K engagements


"Front-end Treasury futures amass record positions. Combined open interest in 2- 3- and 5-Year Note futures has reached an all-time high as expectations for FOMC action grow and the curve steepens ahead of a possible rate cut in the fall"  
[X Link](https://x.com/anyuser/status/1813583062598357238)  2024-07-17T14:34Z 12.8K followers, 16.2K engagements


"BREAKING: 2s10s Treasury spread moves positive for the first time in two years"  
[X Link](https://x.com/anyuser/status/1819487919641436482)  2024-08-02T21:38Z 12.8K followers, 46.9K engagements


"Open interest in Treasury futures has surpassed [--] million for the first time ever"  
[X Link](https://x.com/anyuser/status/1824491312290107599)  2024-08-16T17:00Z 12.7K followers, 18.2K engagements


"New records for SOFR futures. Open interest hit 12.7M last week as year-to-date ADV reached 3.5M. More details here: http://spr.ly/6014m7gZY http://spr.ly/6014m7gZY"  
[X Link](https://x.com/anyuser/status/1831044737064693830)  2024-09-03T19:00Z 12.7K followers, 14.7K engagements


"Massive options volumes following NFP on Friday. [---] million #SOFR options (10th all-time) [---] million #Treasury options (10th) - [----] million Weekly Treasury options (1st) - 32K Ultra [--] options (1st)"  
[X Link](https://x.com/anyuser/status/1833230673642930499)  2024-09-09T19:47Z 12.7K followers, 10.1K engagements


"**NEW RECORD** Open interest in #SOFR futures surpasses [--] million contracts for the first time"  
[X Link](https://x.com/anyuser/status/1836430249006969140)  2024-09-18T15:41Z 12.8K followers, 21.8K engagements


"The #SOFR curve has seen a dramatic repricing over the last week as rate cut expectations moderate ahead of CPI"  
[X Link](https://x.com/anyuser/status/1844122330470953188)  2024-10-09T21:06Z 12.7K followers, [----] engagements


"The world's deepest futures market visualized. #SOFR"  
[X Link](https://x.com/anyuser/status/1849420583445856711)  2024-10-24T12:00Z 12.8K followers, 28K engagements


"U.S. T-Bond futures (ZB) open interest surpasses [--] million contracts for the first time in its storied 47-year history"  
[X Link](https://x.com/anyuser/status/1858541954260181061)  2024-11-18T16:05Z 12.7K followers, 13K engagements


"Trading in SOFR vs. Fed Funds futures spreads jumped 6X the yearly average yesterday amid ongoing SOFR-EFFR basis volatility"  
[X Link](https://x.com/anyuser/status/1861807146649719195)  2024-11-27T16:19Z 12.8K followers, 17.8K engagements


"Our #SOFR visual was so well-received we used it as a catalyst for a written primer detailing the vast lineup of SOFR strategies available on Globex. https://www.cmegroup.com/articles/2024/sofr-futures-and-options-globex-strategy-guide.htmlutm_source=ir_x&utm_medium=organic_social&utm_campaign=sofr The world's deepest futures market visualized. #SOFR https://t.co/bFrYH0yxvA https://www.cmegroup.com/articles/2024/sofr-futures-and-options-globex-strategy-guide.htmlutm_source=ir_x&utm_medium=organic_social&utm_campaign=sofr The world's deepest futures market visualized. #SOFR"  
[X Link](https://x.com/anyuser/status/1864018150221664698)  2024-12-03T18:45Z 12.8K followers, 17.1K engagements


"🚨 New product announcement Cross-Currency Basis futures launching in February will offer exposure to the EUR/USD X-CCY basis via a single futures contract. http://spr.ly/6012Q66N4 http://spr.ly/6012Q66N4"  
[X Link](https://x.com/anyuser/status/1864406824813768753)  2024-12-04T20:30Z 12.7K followers, 122.2K engagements


"10-Year Yield futures (10Y) register largest 1-week gain since October 2023"  
[X Link](https://x.com/anyuser/status/1867693399874171243)  2024-12-13T22:09Z 12.7K followers, [----] engagements


"STIR history made again. For the second year in a row #SOFR futures and options volume bested all-time highs"  
[X Link](https://x.com/anyuser/status/1875157669092151715)  2025-01-03T12:30Z 12.7K followers, 28K engagements


"SOFR vs. Fed Funds futures continue to see outsized volumes with spreads now trading positive across the front six months of the forward curve. SR1-ZQ ICS accounted for a record 45% of SR1 volume in December. That figure has risen to nearly 60% in early 2025"  
[X Link](https://x.com/anyuser/status/1876385700167172397)  2025-01-06T21:49Z 12.8K followers, 22.8K engagements


"SOFR vs. Fed Funds futures 🔥 SR1-ZQ spreads saw their busiest day of the year yesterday (7th highest all-time) as spreads widened across much of the curve following two days of consolidation"  
[X Link](https://x.com/anyuser/status/1882824253180883284)  2025-01-24T16:14Z 12.8K followers, 10.2K engagements


"🚨 Record trading in short-term Treasury options Amid rising event risk Weekly Treasury options have seen their most active 10-day stretch ever narrowly besting levels seen around the [----] election"  
[X Link](https://x.com/anyuser/status/1888994781121978682)  2025-02-10T16:53Z 12.7K followers, [----] engagements


"#FedWatch: Warm CPI cools rate cut expectations"  
[X Link](https://x.com/anyuser/status/1889695654315807129)  2025-02-12T15:18Z 12.7K followers, [----] engagements


"📈 Treasury futures open interest tops [--] million contracts for the first time"  
[X Link](https://x.com/anyuser/status/1892601400103772281)  2025-02-20T15:45Z 12.8K followers, [----] engagements


"#FedWatch: May in play The market-implied probability of a May rate cut has risen to 50% up from 28% a week ago"  
[X Link](https://x.com/anyuser/status/1897781661347033228)  2025-03-06T22:49Z 12.8K followers, [----] engagements


"Treasury options saw their most active 5-day stretch ever last week narrowly surpassing levels seen in March [----]. Volume records were also triggered over 10D 15D 20D 30D and 60D moving averages as the rise of two-way risk has driven outsized options trading since mid-Jan"  
[X Link](https://x.com/anyuser/status/1899145357113598288)  2025-03-10T17:08Z 12.7K followers, [----] engagements


"Interest rate swaps 🤝 Interest rate futures & options Portfolio Margining delivered a record $9.3B/day in savings last month with clients clearing their USD swaps alongside F&O at CME Group"  
[X Link](https://x.com/anyuser/status/1899559864478613680)  2025-03-11T20:35Z 12.7K followers, [----] engagements


"Asset Managers extend record net long in 3M SOFR. According to the latest CFTC data (3/18) Asset Manager long positions in #SR3 rose by 237K contracts last week the largest inflow on record. By contrast just a year ago Asset Managers held a record net short position"  
[X Link](https://x.com/anyuser/status/1905273942140400082)  2025-03-27T15:01Z 12.8K followers, 21.5K engagements


"#SOFR futures volumes third-highest ever in March. Over 4.5M contracts traded daily in March as macro uncertainty and shifting rate cut expectations drove traders to the world's most liquid STIR market"  
[X Link](https://x.com/anyuser/status/1907395086398218703)  2025-04-02T11:30Z 12.8K followers, [----] engagements


"EUR/USD Cross Currency Basis prints at the lowest level of the year. Where next"  
[X Link](https://x.com/anyuser/status/1910323449676890540)  2025-04-10T13:26Z 12.8K followers, 11.1K engagements


"#SOFR vs. Fed Funds futures spreads saw back-to-back record volumes this week as overnight SOFR volatility pressured SR1-ZQ spreads to their lowest levels since November"  
[X Link](https://x.com/anyuser/status/1910713559652184209)  2025-04-11T15:16Z 12.8K followers, 12.9K engagements


"#FedWatch: May in play Markets say nay. At least for today. In the ongoing seesaw of expectations surrounding the May FOMC meeting markets are now pricing a 90% probability that the Fed will hold rates steady"  
[X Link](https://x.com/anyuser/status/1912943758330507375)  2025-04-17T18:58Z 12.8K followers, [----] engagements


"Dec25 #SOFR futures (SR3Z5) climb to fifth straight daily gain on highest volume since April 11"  
[X Link](https://x.com/anyuser/status/1917696506208854475)  2025-04-30T21:44Z 12.7K followers, 57.3K engagements


"📈 Fed Funds futures (ZQ) open interest hits all-time high. Amid ongoing uncertainty and debate surrounding the Fed's path for interest rates open interest in Fed Funds futures has grown to 2.56M contracts the highest level in its 36-year history"  
[X Link](https://x.com/anyuser/status/1917962330601632028)  2025-05-01T15:20Z 12.8K followers, 22.6K engagements


"#FedWatch: Markets dial back rate cut expectations to three [--] bp cuts by year-end pushing first cut back to July"  
[X Link](https://x.com/anyuser/status/1918389388179878257)  2025-05-02T19:37Z 12.8K followers, [----] engagements


"#SOFR Dec25-Dec26 spread (Z5Z6) falls to new lows as Powell signals Fed can be patient on adjusting interest rates"  
[X Link](https://x.com/anyuser/status/1920203489369632881)  2025-05-07T19:46Z 12.8K followers, 10.8K engagements


"Ahead of the Jun-Sep Treasury roll later this month here's an interesting view into recent physical delivery trends. Notably 4.8% of T-Bond futures (ZB) OI went into delivery in the Mar-25 delivery month a significant outlier vs. the historical avg. of less than 1%. ZF and TN also saw above trend deliveries"  
[X Link](https://x.com/anyuser/status/1920939449505988834)  2025-05-09T20:30Z 12.7K followers, [----] engagements


"#FedWatch: Summer rate cut expectations cooling"  
[X Link](https://x.com/anyuser/status/1921995687320760549)  2025-05-12T18:27Z 12.8K followers, 12K engagements


"Large trades in Eris Swap futures net record open interest. $7mm DV01 of outright duration in Eris SOFR block trades Thursday caught the attention of market participants. Total volume of 118K resulted in 106K contracts of new OI with the majority of trades occurring on the ask side of the screen markets"  
[X Link](https://x.com/anyuser/status/1923409982201979153)  2025-05-16T16:07Z 12.8K followers, 15K engagements


"Options traders positioning for further curve steepening While 30-Yr yields have eased off their morning highs T-Bond put skew remains elevated relative to 2s and 5s suggesting higher demand for downside protection in Bond futures relative to front-end tenors"  
[X Link](https://x.com/anyuser/status/1925654804103061759)  2025-05-22T20:47Z 12.7K followers, 10.9K engagements


"The Jun-Sep Treasury futures roll jumped to 82% complete yesterday on trading volume of 31.7M contracts. ✔ 4th highest volume all-time ✔ 7th time above 30M ✔ ZB leading the way with 87% rolled"  
[X Link](https://x.com/anyuser/status/1927762883636580498)  2025-05-28T16:24Z 12.7K followers, [----] engagements


"What's driving SOFR vs. Fed Funds spread dynamics SR1-FF spreads for Jun and Jul have risen to their highest levels of the year widening their divergence from Oct Nov and Dec spreads"  
[X Link](https://x.com/anyuser/status/1932143837046018466)  2025-06-09T18:32Z 12.8K followers, 10.5K engagements


"SOFR-Fed Fund spreads 📉 Fueled by expectations of increased bill supply and higher funding costs SR1-ZQ spreads hit their lowest levels in months yesterday. Jul and Aug spreads hit a 2-month low while Sep retested its YTD low"  
[X Link](https://x.com/anyuser/status/1942962136746996050)  2025-07-09T15:00Z 12.8K followers, [----] engagements


"#FedWatch: September rate cut probability (green line) falls to 56% matching YTD lows"  
[X Link](https://x.com/anyuser/status/1945487017304830008)  2025-07-16T14:13Z 12.8K followers, [----] engagements


"#SOFR futures open interest surges above [--] million contracts for the first time"  
[X Link](https://x.com/anyuser/status/1960369135927333049)  2025-08-26T15:49Z 12.8K followers, 47.5K engagements


"The breakout in OI for Eris SOFR continues. Activity is testing record highs and is currently up 120% compared to last January"  
[X Link](https://x.com/Interest_Rates/status/2012174252124844336)  2026-01-16T14:45Z 12.7K followers, [----] engagements


"After last week's in-line Inflation Report eyes turn to PCE & GDP this week: Mon: MLK Jr. Day (U.S. Markets Closed) Tue: Auctions: $166B in 13-Wk/26-Wk $50B in 52-Wk Wed: 20-Yr Auction ($13B) Thu: 10-Yr TIPS Auction ($21B) PCE Report GDP Fri: Japan Inflation & Rate Decision"  
[X Link](https://x.com/Interest_Rates/status/2013265188233851333)  2026-01-19T15:00Z 12.6K followers, [----] engagements


"The world's deepest futures market visualized. #SOFR Back by popular demand and updated for 2026"  
[X Link](https://x.com/Interest_Rates/status/2014352743511580936)  2026-01-22T15:01Z 12.7K followers, [----] engagements


"The first Fed meeting of [----] highlights the week ahead. Current FedWatch: 97% at no change. Mon: Durable Goods Orders Auctions: T-Bills ($166B) & 2-Yr ($69B) Tue: 5-Yr Auction ($70B) Wed: FOMC & Bank of Canada Rate Decisions Thu: 7-Yr Auction ($44B) Fri: EU GDP U.S. PPI"  
[X Link](https://x.com/Interest_Rates/status/2015779257675300965)  2026-01-26T13:30Z 12.7K followers, [----] engagements


"Did you know Packs & bundles activity has soared under the #SOFR regime. Accounting for over 20% of SR3 volume this key liquidity pool allows users to trade strips of consecutive SOFR contracts in a single transaction with zero legging risk and the precision of 1/4bp ticks"  
[X Link](https://x.com/Interest_Rates/status/2016184821366534522)  2026-01-27T16:21Z 12.7K followers, [----] engagements


"Learn more about Packs and Bundles: ✅ Mechanics: ✅ Lesson: ✅ Convexity trading 👇 http://spr.ly/6014hB3gk http://spr.ly/6016hB3gw http://spr.ly/6015hB3gZ http://spr.ly/6014hB3gk http://spr.ly/6016hB3gw http://spr.ly/6015hB3gZ"  
[X Link](https://x.com/Interest_Rates/status/2016184823878922669)  2026-01-27T16:21Z 12.7K followers, [----] engagements


"Post-FOMC (hold) and press conference. Muted reaction. Probability of two cuts modestly lower"  
[X Link](https://x.com/Interest_Rates/status/2016611517416739326)  2026-01-28T20:37Z 12.7K followers, [----] engagements


"STIR history made. #SOFR futures and options traded [----] billion contracts in [----] surpassing the highest annual volume ever recorded in Eurodollars"  
[X Link](https://x.com/Interest_Rates/status/1742262244212183284)  2024-01-02T19:11Z 12.8K followers, 55.2K engagements


"U.S. 2Y/10Y inversion now longest in history. The 2s10s spread (FRED T10Y2Y) has now been inverted for [---] days surpassing the 1978-1980 inversion of [---] days for longest ever"  
[X Link](https://x.com/Interest_Rates/status/1768600533147783309)  2024-03-15T11:30Z 12.8K followers, 115.6K engagements


"Amid elevated SOFR-EFFR basis volatility STIR traders are finding ample liquidity in SOFR vs. Fed Funds futures spreads (SR1-ZQ) to manage/gain exposure"  
[X Link](https://x.com/Interest_Rates/status/1860007716778860806)  2024-11-22T17:09Z 12.8K followers, [----] engagements


"Combined open interest in T-Bond (ZB) and Ultra Bond (UB) futures just surpassed [--] million contracts for the first time. When the Ultra Bond launched on January [--] [----] total OI across all Treasury futures stood at [---] million"  
[X Link](https://x.com/Interest_Rates/status/1861162531110212030)  2024-11-25T21:38Z 12.8K followers, 11.1K engagements


"#FedWatch: Market-implied probability of a December rate cut jumps to 95% following CPI"  
[X Link](https://x.com/Interest_Rates/status/1866934519736987910)  2024-12-11T19:54Z 12.8K followers, 16.2K engagements


"#SOFR futures term structure post-CPI"  
[X Link](https://x.com/Interest_Rates/status/1879582434003415228)  2025-01-15T17:32Z 12.8K followers, 10.5K engagements


"🚨 Interest Rates see highest ever daily trading volume. Over [--] million Interest Rate contracts traded yesterday (+21% vs. prior high) propelling CME Group's total volume to an all-time high of [--] million. Press release: http://spr.ly/6014LXAnj http://spr.ly/6014LXAnj"  
[X Link](https://x.com/Interest_Rates/status/1894773752405033014)  2025-02-26T15:37Z 12.8K followers, 46.1K engagements


"#STIR Analytics tool -- New feature alert Before: Chart current term structure vs. prior settle. Now: Chart current term structure vs. up to five pre-set or user-defined dates"  
[X Link](https://x.com/Interest_Rates/status/1897390189216960908)  2025-03-05T20:54Z 12.8K followers, [----] engagements


"Dec25 #SOFR futures (SR3Z5) see largest 1-day gain since Aug [--] implying expectations of four rate cuts by year-end"  
[X Link](https://x.com/Interest_Rates/status/1907902904331104422)  2025-04-03T21:07Z 12.8K followers, [----] engagements


"#FedWatch: May rate cut probability rises to nearly 50%"  
[X Link](https://x.com/Interest_Rates/status/1909689226251153439)  2025-04-08T19:26Z 12.8K followers, 17.8K engagements


"#SOFR futures curve today vs. a week ago a month ago a quarter ago"  
[X Link](https://x.com/Interest_Rates/status/1915814286259101754)  2025-04-25T17:04Z 12.8K followers, 29.9K engagements


"SOFR Dec25 vs. Dec26 (Z5Z6) spread hits new low of [---] as rate cut expectations move further out the curve"  
[X Link](https://x.com/Interest_Rates/status/1919405814776791254)  2025-05-05T14:56Z 12.8K followers, 16K engagements


"#SOFR Dec25 vs. Dec26 (Z5Z6) spread again hitting new lows as markets push more rate cuts to 2026"  
[X Link](https://x.com/Interest_Rates/status/1927384630895730839)  2025-05-27T15:21Z 12.8K followers, 41.9K engagements


"#SOFR Z5Z6 spread making new lows ahead of FOMC"  
[X Link](https://x.com/Interest_Rates/status/1935074288844890194)  2025-06-17T20:37Z 12.8K followers, 73.5K engagements


"#FedWatch: Calls for three cuts in [----] fade. After today's jobs report markets are now pricing in two rate cuts in [----] (year-end target range of 375-400 bps) as the most likely scenario"  
[X Link](https://x.com/Interest_Rates/status/1940776408034291749)  2025-07-03T14:15Z 12.8K followers, 12.4K engagements


"#SOFR Z5Z6 spread a popular proxy for deferred rate cuts [---] bps on the day to a new all-time low"  
[X Link](https://x.com/Interest_Rates/status/1945567339186909398)  2025-07-16T19:32Z 12.8K followers, 16.5K engagements


"#SOFR Z5Z6 spread falls below [---] bps"  
[X Link](https://x.com/Interest_Rates/status/1947333115581513780)  2025-07-21T16:29Z 12.8K followers, 31.3K engagements


"#FedWatch: September rate cut probability falls below 40%. Was 95% a month ago"  
[X Link](https://x.com/Interest_Rates/status/1950923444024991979)  2025-07-31T14:16Z 12.8K followers, 15.4K engagements


"Covered interest rate parity achieved For the first time in [----] and the second time in the index's history the EUR/USD Cross-Currency Basis (XEURBI) printed exactly par today"  
[X Link](https://x.com/Interest_Rates/status/1951030402023358729)  2025-07-31T21:21Z 12.8K followers, [----] engagements


"#FedWatch: Is a September cut back in play Traders seem to think so: After the jobs report probability of a cut doubled to over 80%"  
[X Link](https://x.com/Interest_Rates/status/1951384173173707117)  2025-08-01T20:46Z 12.8K followers, [----] engagements


"Leveraged Funds added 276K of new short positions in 10-Year (TY) futures last week the largest weekly gain on record according to the latest CFTC data (7/29)"  
[X Link](https://x.com/Interest_Rates/status/1953081542470742092)  2025-08-06T13:11Z 12.8K followers, [----] engagements


"EUR/USD 3-month spot basis (EUXOQQC) has risen to 2.75bp. Sep25 X-CCY futures (XEEU5) last traded at [----] this morning. Will the upward trend on basis last the summer"  
[X Link](https://x.com/Interest_Rates/status/1953119811254280659)  2025-08-06T15:43Z 12.8K followers, 18.1K engagements


"🚨 5-Year Note futures (ZF) open interest now highest ever. On the back of 19% growth YTD outpacing all other tenors ZF OI has climbed to a record 7.35M contracts ahead of the Sep-Dec roll"  
[X Link](https://x.com/Interest_Rates/status/1957848976276750485)  2025-08-19T16:55Z 12.8K followers, 19.3K engagements


"📈 Momentum building in Credit futures Open interest just topped [----] contracts aided by an influx of new users and the first derived block trade"  
[X Link](https://x.com/Interest_Rates/status/1958244065046081602)  2025-08-20T19:05Z 12.8K followers, [----] engagements


"🚨 Treasury futures open interest tops [--] million contracts for the first time"  
[X Link](https://x.com/Interest_Rates/status/1960055872039620902)  2025-08-25T19:05Z 12.8K followers, 23.1K engagements


"SOFR Z5Z6 spread falls to new lows as traders expand [----] easing expectations"  
[X Link](https://x.com/Interest_Rates/status/1960801163504124083)  2025-08-27T20:26Z 12.8K followers, [----] engagements


"3-Month #SOFR futures (SR3) OI tops [--] million for the first time less than [--] weeks since crossing [--] million for the first time. Traders have now added [---] million in new positions since the June IMM on pace to be the largest quarterly inflow on record"  
[X Link](https://x.com/Interest_Rates/status/1963646074616193220)  2025-09-04T16:51Z 12.8K followers, 11.3K engagements


"#FedWatch: Market-implied probability of three [----] rate cuts jumps to 64% post-NFP"  
[X Link](https://x.com/Interest_Rates/status/1963990161504542816)  2025-09-05T15:38Z 12.8K followers, 13.4K engagements


"Sep25 SOFR-Fed Funds spread falls to new contract low of [-----] bps. Upward pressure on overnight #SOFR has driven spreads lower and ICS volumes higher in recent days. SR1-ZQ spread volume of 261K on Friday was the 10th largest since the pair began trading in 2018"  
[X Link](https://x.com/Interest_Rates/status/1965077054447079534)  2025-09-08T15:37Z 12.8K followers, 12K engagements


"Massive day for 2-Year Treasury options. Yesterday's volume nearly doubled the prior high with trading concentrated in TUZ5 put options which saw open positions jump by 233K"  
[X Link](https://x.com/Interest_Rates/status/1966535327096385639)  2025-09-12T16:12Z 12.8K followers, [----] engagements


"The largest ever Fed Funds futures block trade was executed this morning (84000 contracts equivalent to $3.5m per basis point) underscoring the significant risk transfer enabled by CME Group's deeply liquid markets"  
[X Link](https://x.com/Interest_Rates/status/1967690926123303226)  2025-09-15T20:44Z 12.8K followers, 87K engagements


"SR3Z5 now largest contract by OI in SOFR history. With all eyes (and portfolios) focused on the final three fed meetings of the year Dec25 #SOFR futures have amassed the largest position of any contract month in SOFR history eclipsing the Jun23 contract highs observed during the LIBOR transition"  
[X Link](https://x.com/Interest_Rates/status/1968019839399694671)  2025-09-16T18:31Z 12.8K followers, 26.2K engagements


"SERFFing USA 🏄♂ Trading in SOFR vs. Fed Fund (SERFF) spreads spiked to near record levels this week registering their second and fourth largest volumes all-time amid elevated funding pressure"  
[X Link](https://x.com/Interest_Rates/status/1969076665373348154)  2025-09-19T16:30Z 12.8K followers, 11.1K engagements


"Dec25 SOFR-Fed Funds spread falls to new low of [---] bps indicating expectations that higher overnight funding costs will persist/increase into the turn"  
[X Link](https://x.com/Interest_Rates/status/1970191108492722176)  2025-09-22T18:18Z 12.8K followers, 27.9K engagements


"#FedWatch: October rate cut probability now 96%"  
[X Link](https://x.com/Interest_Rates/status/1973095029313814735)  2025-09-30T18:38Z 12.8K followers, [----] engagements


""It is the most interesting market in the world" - @Interest_Rates October 2025"  
[X Link](https://x.com/Interest_Rates/status/1975999342050705477)  2025-10-08T18:58Z 12.8K followers, [----] engagements


"SOFR vs. Fed Fund spreads 📉 making new lows across the front four contract months led by Dec25 at -10.5bps"  
[X Link](https://x.com/Interest_Rates/status/1978893563376054558)  2025-10-16T18:39Z 12.8K followers, 15.1K engagements


"One-Month #SOFR (SR1) futures see outsized activity amid funding pressure SOFR/EFFR basis volatility. Offering monthly granularity for framing SOFR expectations SR1 has become a critical tool for off-balance-sheet hedging of U.S. repo exposure and RV trading vs. Fed Funds"  
[X Link](https://x.com/Interest_Rates/status/1981072535849406534)  2025-10-22T18:57Z 12.8K followers, [----] engagements


"Powell: "There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion far from it." #FedWatch: December rate cut probability falls to 65%"  
[X Link](https://x.com/Interest_Rates/status/1983621736798073044)  2025-10-29T19:47Z 12.8K followers, 24K engagements


"STIR traders continue to turn to SOFR-Fed Funds (SERFF) spreads to navigate waves in funding markets. A record 550K spreads traded on Friday +28% vs. the prior high from two days earlier. This propelled SR1 to record day of 835K contracts"  
[X Link](https://x.com/Interest_Rates/status/1985436833950335180)  2025-11-03T20:00Z 12.8K followers, 34.8K engagements


"10-Year Note (TY) futures open interest hits all-time high. On the back of 27% growth YTD which outpaces all other tenors TY open interest reached [----] million yesterday"  
[X Link](https://x.com/Interest_Rates/status/1990857526108147980)  2025-11-18T18:59Z 12.8K followers, 16.1K engagements

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