datoid

The 10-year Treasury yield fell to 4.76% on Sept 10, 1998, marking a 4.1 standard deviation drop below its 60-day average of 5.38%. This represents an exceptionally rare decline in borrowing costs. The sharp drop occurred alongside record-low 4.3% unemployment and rising GDP (+1.4% over 3mo), creating an unusual economic mix of falling long-term rates despite strong fundamentals. This magnitude of yield decline typically signals major shifts in investor sentiment or economic expectations that aren't yet visible in employment or growth data.