According to CoinMeta, as reported by Cailian News on November 11th, due to inflation exceeding expectations and Federal Reserve officials warning of the possibility of more aggressive interest rate hikes, the U.S. bond market encountered its worst selling spree since April 2025. On Tuesday, the yield on two-year U.S. Treasury bonds soared by 21 basis points to 4.77%, marking the largest single-day increase since Trump's equivalent tariff measures triggered a global market shock. This fluctuation signifies another sharp reversal in the bond market. Since the beginning of the month, U.S. Treasury bonds had seen a significant rise alongside the decline in tech stocks and the fall in oil prices, but on Tuesday, these two factors were set aside as the market's focus shifted back to the inflationary pressures that the Federal Reserve has struggled to contain since the pandemic. The selling pressure began with remarks by Federal Reserve Governor Lael Brainard, who stated that if inflation continues to accelerate, she would support a one-time increase of 50 basis points in interest rates. After data on the U.S. Consumer Price Index for October ( CPI ) exceeded economists' expectations, traders began to factor in the possibility of a substantial interest rate hike by the Federal Reserve in December. Speeches by Dallas Fed President Robert Kaplan further reinforced this expectation, suggesting that at least two more 25-basis-point hikes would be needed, and that the Federal Reserve might need to start accelerating its actions.