CHICAGO (Dow Jones)–Long-term interest rate futures prices plunged Thursday, amounting to expectations for higher yields as investors seemed more willing to put their money to work in the risk-abundant stock market.
Only the day before, risk-aversion maneuvers were the trades of choice as participants sold stocks and purchased safer interest rate investments amid doubts about an economic recovery.
Risk-aversion trades "went out the door" Thursday morning, said Mike Larson, interest rate analyst for Weiss Research.
Selling of Treasury and Eurodollar futures intensified as Wednesday’s late-session stock market rally carried over into Thursday.
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