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The 10-year Treasury yield jumped to 6.41% on March 8, 1996, representing a dramatic 4.2 standard deviation move above its 60-day average of 5.75%. This 66 basis point surge occurred over just 17 trading days, with yields climbing from 5.65% in late January. The spike coincides with record-low unemployment at 4.3% and rising inflation (CPI up 1.8% over 3 months), suggesting bond markets were pricing in potential Fed tightening to combat overheating economic conditions. Such extreme yield movements typically signal major shifts in monetary policy expectations or economic outlook.