datoid

The 10-year Treasury yield jumped to 2.29% on March 14, 2012, marking a 5.0 standard deviation move above its 60-day average of 1.97%. This represents the highest yield since the series began its recent range, with the rate climbing from 1.98% just two weeks prior. The spike coincides with strong economic indicators: unemployment at a record low 4.30%, GDP growing 1.4%, and CPI rising 1.8% over three months. This suggests markets may be pricing in expectations of stronger growth and potential Fed policy shifts. Such extreme statistical moves in Treasury yields often signal major market repricing. What drove this sudden shift in bond market sentiment?