datoid

The 10-year Treasury yield dropped to 3.10% on Nov 20, 2008—a massive 4.2 standard deviation decline from its 60-day average of 3.75%. This represents a flight to safety during peak financial crisis conditions. The context is striking: unemployment held at 4.30% (still pre-crisis levels), while GDP grew 1.4% and CPI rose 1.8%—suggesting economic fundamentals hadn't yet reflected the credit market panic driving bond demand. This disconnect between Treasury markets and reported economic indicators highlights how bond markets often lead fundamental data during crisis periods.