Crypto Market News: The bond market has become the focus of traders, as investors prepare for the upcoming U.S. CPI report. The yield on 10-year U.S. Treasury notes has risen to 4.63%, the highest level since the end of May. Meanwhile, the 30-year yield has also touched 5.11%, up nearly 30 basis points from three weeks ago. For short-term yields, the 2-year yield has climbed to 4.29%, the highest point since February 2025. The market broadly expects the Federal Reserve to raise rates by 25 basis points in September. Although CPI data may be affected by fluctuations in energy prices, the fact that the Strait of Hormuz has closed again poses major concerns for the inflation outlook, and this tension is already showing up in the bond market.