Based on your understanding of forward and futures contracts, identify the differences between the two: Which of the following are used to hedge against price changes for input materials? Financial futures Commodity futures Jacek feels strongly that the 20-year U.S. Treasury bond yield is too low. Which of the following derivative positions would let him earn a profit if he turns out to be right? A long position in interest rate futures A short position in interest rate futures A short position in structured notes A long position in structured notes