According to CoinMeta, U.S. inflation data exceeded expectations, raising the likelihood of a 50-basis-point interest rate hike by the Federal Reserve in December. Logan advocates for another 50-basis-point hike, while Bowman and Schmidt sent hawkish signals. The yield on two-year U.S. Treasury bonds soared by 19 basis points in a single day, as the market rapidly re-priced the path of tightening. Inflation data that rebounded beyond expectations completely shattered market fantasies of interest rate cuts in the short term. Federal Reserve officials collectively sent hawkish signals, emphasizing the necessity of maintaining a tight monetary policy. The sharp fluctuations in the yield on two-year U.S. Treasury bonds reflect the market's deep fear of interest rates remaining high in the long term. This data performance directly boosted expectations for interest rate hikes, forcing investors to re-evaluate the logic of asset pricing.