Morgan Stanley lost on interest-rate trades: report

June 28, 2011 9:14 PM EDT

Morgan Stanley's interest-rates trading group lost at least tens of millions betting on inflation expectations in the second quarter, Bloomberg News reported, citing people informed about the dealings.

Traders at the bank bet that inflation expectations for the next five years would rise in Treasury markets, while forecasts for the next 30 years would fall, the news service said.

Morgan Stanley could not be immediately reached for comment.

(Reporting by Jochelle Mendonca in Bangalore; Editing by Gary Hill)

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