Deep Tide TechFlow News, on October 23, 10x Research posted on social media that the 10-year Treasury yield has risen from 3.6% at the September FOMC meeting to 4.2% (+60 basis points). As the yield broke through 4.0%, Trump's election probability increased to 60%, intensifying market concerns about inflation. Higher bond yields usually indicate fewer rate hikes in the future. On October 4, non-farm payroll data exceeded expectations, adding 254k jobs, after which Trump began his campaign activities, further boosting his election probability. This rise in yield led to adjustments in U.S. small-cap stocks (Russell 2000) and Bitcoin.