TREASURIES-U.S. debt prices plunge after fiscal deal

LONDON Wed Jan 2, 2013 6:05am EST

Related Topics

LONDON Jan 2 (Reuters) - U.S. Treasury note futures plunged on Wednesday after U.S. lawmakers approved a deal preventing a round of automatic fiscal tightening that could have pushed the world's top economy into recession.

The Republican-controlled House of Representatives approved a bill that will raise taxes on top U.S. earners, avoiding a 'fiscal cliff' of $600 billion in broad-based tax hikes and spending cuts.

T-note futures were last 25/32 lower at 132 in European trade.