(Bloomberg) -- Treasury yields surged after stronger-than-anticipated January employment data strengthened the case for the Federal Reserve to defer cutting interest rates until at least the second quarter.Most Read from BloombergMusk Took Drugs With Some Tesla Board Members, WSJ SaysBiden Swipes at Trump’s Personality in ‘Weirdest Campaign’ YetIraq Says 16 Killed in US Strikes, Calls Security Risk GraveRed Sea Danger Is Spurring Global Oil Buyers to Go LocalShort-dated Treasuries, more sensitiv