Bond traders are stepping up short bets against Treasuries and buying derivatives to protect against a selloff, positioning for the risk that the Federal Reserve will dial back the market’s expectations for interest-rate cuts this year. While the US central bank is all but certain to hold rates steady Wednesday, trading data points to growing concern that its new forecasts will show increased reticence to ease monetary policy. The December forecasts showed policymakers were penciling in three quarter-point cuts in 2024, but since then the economy has continued to exhibit surprising strength and inflation has held ... (full story)