US Treasuries rallied Wednesday as data showed hiring slowed at a faster-than-expected pace and the shares of a New York bank tumbled after it reported a surprise loss, raising concerns about the health of regional lenders. The move sent two- to five-year Treasury yields tumbling more than 10 basis points as traders priced in a higher likelihood of Federal Reserve interest-rate cuts beginning as soon as March. Fed policy makers are set to conclude a two-day meeting Wednesday afternoon with no change in policy expected. The declines pushed the US 10-year yield back below 4%. In the swaps market, traders increased ... (full story)