According to CoinMeta, as the global stock market sell-off, led by technology stocks, intensified further, investors turned to traditional safe-haven assets. Japanese government bonds rose on Friday, pushing yields across various maturities to multi-month lows. The yield on Japan's 10-year government bonds fell by 14.5 basis points to 2.61%, the lowest level since June 26. The yield on the 2-year government bonds, which are most sensitive to expectations of monetary policy, dropped by 13.5 basis points to 1.72%, the lowest since August 28. The sell-off in the stock market also prompted investors to re-evaluate the possibility of a interest rate hike by the Bank of Japan next month, further boosting demand for government bonds and driving down yields. Traders currently expect a 58% probability that the Bank of Japan will maintain its interest rates unchanged in December, with a 42% probability of a hike. Yusuke Matsuo, a senior macroeconomist at Sumitomo Securities, stated that if financial market turmoil continues for some time, the Bank of Japan may find it more difficult to continue raising interest rates, as such hikes could further exacerbate market instability. The Bank of Japan's motivation to adopt a wait-and-see stance will further strengthen.