U.S. Treasury yields have surged, with the 10-year yield rising above 4.23%, its highest level since June 2024, and increasing approximately 50 basis points since the Federal Reserve's 50 basis point rate cut in September. This sharp rise reflects market concerns over the central bank's future interest rate trajectory amid persistent inflation pressures. The U.S. Treasury conducted significant auctions, selling $86 billion in 3-month bills at a high rate of 4.51% with a bid-to-cover ratio of 3.07, and $76 billion in 6-month bills at a high rate of 4.31% with a bid-to-cover ratio of 2.92. The robust demand indicates strong liquidity in the short-term debt market. Market volatility has intensified, with the ICE BofA MOVE index, a measure of U.S. Treasury market volatility, spiking to its highest level since December 2024.