BAX Futures are as follows:
| Month / Strike | Bid Price | Ask Price | Settl. Price | Net Change | Vol. |
| + 12 OC | 0.000 | 0.000 | 98.820 | 0.000 | 0 |
| + 12 NO | 0.000 | 0.000 | 98.780 | 0.000 | 0 |
| + 12 DE | 98.730 | 98.735 | 98.745 | -0.015 | 10452 |
| + 13 MR | 98.710 | 98.720 | 98.750 | -0.030 | 27000 |
| + 13 JN | 98.680 | 98.690 | 98.730 | -0.050 | 32803 |
| + 13 SE | 98.650 | 98.660 | 98.690 | -0.040 | 19232 |
| + 13 DE | 98.610 | 98.620 | 98.660 | -0.040 | 11758 |
| + 14 MR | 98.570 | 98.580 | 98.610 | -0.030 | 1998 |
| + 14 JN | 98.520 | 98.540 | 98.560 | -0.020 | 1257 |
| + 14 SE | 98.470 | 98.480 | 98.500 | -0.020 | 613 |
| + 14 DE | 98.410 | 98.430 | 98.430 | -0.010 | 525 |
| + 15 MR | 98.340 | 98.360 | 98.370 | -0.010 | 123 |
| + 15 JN | 98.280 | 98.300 | 98.310 | -0.010 | 50 |
| + 15 SE | 98.210 | 98.230 | 98.240 | -0.020 | 50 |
The market is pricing in the anticipation that rates may increase a quarter point in 2013 but nothing yet substantive. In particular, the September 2015 projection of a 1.5% target rate is an interesting bet from a risk/reward perspective. Three-month corporate paper is at 1.16% and has been this for quite some time.