Pattern query

I have purchased a pattern and am not a beginner but this pattern has me stumped. Can someone explain to me please I have cast on 64 stitches and ribbed 9 rows in the round

Slip the first stitch to your right needle, k the second stitch, yo, pull the first stitch over the second stitch and the yo as if to bind off repeat till row end 64 sts

Welcome to KnittingHelp!
What is the name of your pattern?
This video is a bit dark but close up and clearly demonstrates the pattern stitch.

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The slipped stitch (decrease) becomes a horizontal bar across the next knit stitch and YO (increase) as shown in the video image that @salmonmac shared above. The stitch count remains the same.

Please note: If you have any stitch markers, especially the end of round marker, they will migrate one stitch to the left (the yarn over inc.) With each row unless you adjust them.

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Thank you so much for responding. I have just knitted my first beanie with this stitch. Once I watched the video I could not believe how easy it was.

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