US two-year Treasury yield slid below 4.70% from about 4.78% (down roughly 8bps)
after Fed Chair Kevin Warsh's post-meeting remarks were read by some traders as
dovish following a press conference that disclosed little about the committee's
decision process. Warsh said that since the September rate increase financial
and credit conditions have begun to tighten and that those developments "help
achieve longer-term, more durable economic growth and price stability."
