datoid

The 10-year Treasury yield plummeted to 2.72% on December 1, 2008, marking a dramatic 3.9 standard deviation drop below its 60-day average of 3.68%. This represents a flight to safety during the peak of the financial crisis. The yield fell nearly 1 percentage point in just 6 weeks, from 3.68% on November 17 to this extreme low. Cross-series data shows unemployment hitting record levels while GDP growth slowed to 1.4%. This magnitude of deviation in Treasury markets typically signals severe economic stress and massive capital reallocation. What other asset classes showed similar extreme movements during this period?