According to CoinMeta, the US market saw a month-on-month increase of 0.4% in CPI in October, which was higher than the market's expectation of 0.3%. Federal Reserve Governor Jerome Powell sent hawkish signals, driving up yields across the US Treasury bond spectrum; the yield on 10-year Treasuries rose to 5.012% yesterday, and that on 2-year Treasuries to 4.759%. The market now expects a 25-basis-point interest rate hike by the Federal Reserve in December with a 86% probability, 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 3rd.