According to CoinMeta, expectations for a Federal Reserve interest rate hike have intensified, with the yield on 10-year U.S. Treasury bonds breaking through 5% to reach 5.012%. In the United States, in October, the yield rose by 0.4% month-on-month, exceeding the market's expectation of 0.3%. Federal Reserve Governor Jerome Powell sent hawkish signals, driving up yields across the U.S. Treasury bond spectrum, with the yield on 2-year bonds rising to 4.759%. The market estimates that the probability of a 25-basis-point interest rate hike by the Federal Reserve in December is 86%, and the probability of a 50-basis-point hike has risen to 14%. Powell stated that if inflation exceeds expectations significantly, the Federal Reserve may need to take more substantial policy actions. The European bond market was also affected, with the yield on German 10-year government bonds rising to 3.307%, the highest level since November 3.