[HSBC: Sudden Surge in U.S. Treasury Rate Volatility Poses Potential Risk] According to a report by Jinse Finance, HSBC's global multi-asset strategy team pointed out that the sudden surge in U.S. rate volatility is the biggest risk currently facing the bond market. However, the team believes that this scenario is unlikely to occur in the short term. 'We think this situation should not arise in the coming weeks.' The MOVE index, which measures the implied volatility of the U.S. Treasury market, has shown an overall downward trend since hitting a peak last April, though it has experienced several phases of rebound during this period.